FREE Trial

A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received

Question:

A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 40 million, while the forecast was 42 million. A smoothing constant of .2 is used.
(a) What is the forecast for July?
(b) If the center received 45 million checks in July, what would be the forecast for August?
(c) Why might this be an inappropriate forecasting method for this situation?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 70% (10 reviews)

a b c The banking industry h…View the full answer


answer-question
Answered By
tutor-profile-image
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+ 1+ Reviews 10+ Question Solved
Related Book For  answer-question
Operations management

Operations management

ISBN: 978-0132163927

10th edition

Authors: Jay Heizer, Barry Render

See More Books
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: July 15, 2013 04:45:06
See More Questions

Students also viewed these Management Leadership questions

Q:
A cheque processing centre uses exponential smoothing to forecast the number of incoming cheques each month. The number of cheques received in June was 40 million, while the fore- cast was 42...
A:
a F july F june 0 2 Forecasting error 42......
Q:
The J.J. Bone Company uses exponential smoothing to forecast the average daily call volume at its call center. The forecast for last month was 782, and then the actual value turned out to be 792....
A:
F t 1 ax t 1 a Ft F t......
Q:
A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 88 percent of capacity; actual usage was 89.6 percent of capacity. A...
A:
a Exponential smoothing forecast for Septem......
Q:
Classify each of the following items as a public good, a private good, a mixed good, or a common resource. Georges Banks cod stock A courtside seat at the U.S. Open (tennis) A well-stocked buffet...
A:
The cod stock is a common resource The cod are rival when a......
Q:
A certain radioactive isotope decays to one-eighth of its original amount in 5.00 h. How long would it take for 10.0% of it to decay?
A:
To conclude we can say that since the isotope decays to 1 8......
Q:
You work for the 3T company, which expects to earn at least 18 percent on its investments. You have to choose between two similar projects. Below is the cash information for each project. Your...
A:
A B C D E F G H I J 1 2 3 Net Present Value Example Comparing Two Projects 4 5 Project Omega Year 0......
Q:
Jane is a single taxpayer with a current year AGI of $181,000 and current year income tax liability of $34,968. Her AGI in the prior year was $150,400 and prior year tax liability was $27,247. Jane...
A:
b......
Q:
Kimber Co. is in the process of liquidating and going out of business. The firm's accountant has provided the following balance sheet and additional information: It is estimated that all but 12% of...
A:
a The solution approach is similar to that shown in Problem 2 9 Gains or losses can be calculated fo......
Q:
For each transaction, tell me what basic account will be debited, and which will be credited. I have done #1 for you-- 1. Bailey contributed cash from his personal savings in the amount of $10,000....
A:
Purchased chain saws and other equipment for 4 675 by writing a check Equipment will be debited 4 675 Cash will be credited 4 675 Invested in the busi......
Q:
Abhinav is a trader. Using the following information taken from Abhinavs books on 30 June 208: a. Prepare a trial balance at 30 June 208 b. Prepare an income statement for the year ended 30 June 208...
A:
Solution a Abhinav Trial balance For the year ended 30 June 208 Debit Credit Capital 54 400 Drawings......
Q:
Refer to Problem 4.2. Develop a forecast for years 2 through 12 using exponential smoothing with α = .4 and a forecast for year 1 of 6. Plot your new forecast on a graph with the actual...
A:
Year 1 2 3 4 5 6 7 8 9 10 11 Forecast Demand 7 9 0 5 0 9 0 13 0 8 0 12 0 13 0 9 0 11 0 7......
Q:
The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be drive next year. The miles driven during the past 5 years are as...
A:
a b Year Mileage Two Year Moving Average Error Error 1 3 000 2......
Q:
Discuss the external factors that impact an organization's marketing communication function. Will traditional mass-media advertising soon be dead, as some have predicted?
A:
Several major factors are changing the face of today s marketing communications First consumers are changing In this digital wireless age they are bet......
Q:
Discuss the implications of shifting from a focus on diagnosis to assessment and evaluation. Describe what that might look like in a real world situation and what challenges might occur.
A:
Shifting from a focus on diagnosis to assessment and evaluation in a real world situation such as healthcare education or workplace performance can have significant implications both positive and chal......
Q:
This is an iPython Notebook. You can edit the cells to answer the prompts. Feel free to add more cells as needed. Use "Markdown" cells writing text. When you are finished, use File -> Download As ->...
A:
Click to View...
Q:
Social capital helps us get the things we may need and want. Think about how have you built social capital in the past. Address these questions in your response: -What is an example of a time you...
A:
Example An individual let s call them Alex wanted to advance their career in the field of marketing They decided to attend a marketing conference in t......
Q:
Create a program that generates a secure password. Prompt the user for the minimum length, the number of special characters, and the number of numbers. Then generate a password for the user using...
A:
Click to View...
Q:
Imagine you are the manager of a software development team working on new applications for your company, Optimum Way Development, Inc. Your team has just missed a major milestone in completing one of...
A:
Important Update Project Milestone Delay Dear Director s Name I hope this email finds you well during your travels I wanted to provide you with an imp......
Q:
John Irish, C F A, is an independent in vestment adviser who is assisting Alfred Darwin, the head of the Investment Committee of General Techno logy Corp oration, to establish a new pension fund ....
A:
a The primary rationale is the opportunity for diversification Factors that contribute to low correlations of stock returns across national boundaries......
Q:
Use the T account for Cash below to record the portion of each of the following transactions, if any that affect cash. How do these transactions affect the companys liquidity? Jan. 2 Provided...
A:
The transactions of Jan 2 and 4 have an......
Q:
The following jobs are waiting to be processed at Jeremy LaMontagnes machine center. Today is day 250. Using the critical ratio scheduling rule, in what sequence would the jobs beprocessed? Date Job...
A:
Date Production Date Job Days Job Critical Job Recei......
Q:
The following set of seven jobs is to be processed through two work centers at George Heinrichs printing company. The sequence is first printing, then binding. Processing time at each of the work...
A:
a c The jobs should be processed in the sequence VYUZXWT for a total time of 57 Jo......
Q:
The following set of seven jobs is to be processed through two work centers at George Heinrichs printing company. The sequence is first printing, then binding. Processing time at each of the work...
A:
a c The jobs should be processed in the sequence VYUZXWT for a total time of 57 Jo......
Intelligent Transportation Systems Smart And Green Infrastructure Design 2nd Edition - ISBN: 1439835187 - Free Book