Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate
Question:
Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate the optimal value of α.
a. What is the optimal value of α?
b. Prepare a line graph comparing the exponential smoothing predictions against the original data.
c. What are the forecasts for weeks 23 and 24 using this technique?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
b Exponential Week Price Smoothing alpha 0678 1 176 1760 ...View the full answer
Answered By
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
Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
Question Posted:
Students also viewed these Management Leadership questions
-
Assume you are forecasting with an exponential smoothing model using ( = 0.6. How much weight is placed on the most recent actual demand? How much weight is given to the demand one time period older...
-
Develop an exponential smoothing model with = 0.30 for the data in Problem 12-37 to forecast printer demand in year 11, and compare its accuracy to the linear regression forecast developed in...
-
Develop an exponential smoothing model with a = .30 for the data in Problem 40 to forecast printer demand in year 11 and compare its accuracy to the linear trend line forecast developed in (a).
-
Gothic Kings Ltd. Is a 100% owned subsidiary of Hadrian Inc. Gothic has been profitable in the past but incurred a loss for the year ended December 31, 20X3. Hadrian has indicated that if Gothic...
-
Draw a right-handed coordinate system and locate the points whose coordinates are (a) (3, 4, 5) (b) (3, - 4, 5) (c) (- 3, - 4, 5) (d) (3, 0, 3)
-
On the earth, you can see the ground in someones shadow; on the moon, you cantthe shadow is deep black. Explain the difference.
-
What is a piezoelectric material? Give two examples of such material.
-
In February 2014, Storage Company worked on five job orders for specialty cedar storage cabinets. It began Job Z-6 for Cedar Safe, Inc., on February 10 and completed it on February 24. Partial data...
-
Collection of information is at the core of system analysis. Requirements determination is frequently presented as the most critical phase in system development. a) Explain the characteristics of a...
-
A store maintains data on customers, products and purchase records in three tables: CUSTOMER, PRODUCT, PURCHASE. The store manager wants to know which product is on its maximum discount for each...
-
Use Solver to determine the weights for a four-period weighted moving average on the data set that minimizes the MSE. a. What are the optimal values for the weights? b. Prepare a line graph comparing...
-
Use Holts method to create a model that minimizes the MSE for the data set. Use Solver to estimate the optimal values of and . a. What are the optimal values of and ? b. Are these values...
-
In Exercise 35 you identified several countries that had potentially large influence on the model in Chapter 17, Exercise 36 predicting HDI. Set those countries aside and rerun the model. Write up a...
-
Assume that a radiology group practice has the following cost structure: Furthermore, assume that the group expects to perform 7,500 procedures in the coming year a. What is the groups underlying...
-
Standard Corporation is investing \($400\),000 of fixed capital in a project that will be depreciated straight-line to zero over its 10-year life. Annual sales are expected to be \($240\),000, and...
-
The average asset beta for the pure players in this industry, Relevant, ABJ, and Opus, weighted by market value of equity is closest to: A. 1.67. B. 1.97. C. 2.27. Boris Duarte, CFA, covers initial...
-
Consider the following scenario: - Stock share \(A\) has an initial price \(S_{A}(0)=\$ 25\), at time \(t=0\), which is increased by \(20 \%\) to \(S_{A}(T)=\$ 30\) at time \(t=T\). The total market...
-
Consider the two projects below. The cash flows as well as the NPV and IRR for the two projects are given. For both projects, the required rate of return is 10%. What discount rate would result in...
-
Define and describe in detail the ten sections that make up a creative brief.
-
The percentage of completion and completed contract methods are described in the FASB ASC. Search the codification to find the paragraphs covering these topics, cite them, and copy the results.
-
An example of directness, which moves swiftly into spite, is shown in Figure 5.4, where UK retailer Argos had many angry customers taking to Twitter and explaining that the traditional telephone...
-
Amanda Green is interested in investing in the following set of mutual funds whose returns are all normally distributed with the indicated means and standard deviations: The correlations between the...
-
Amanda Green is interested in investing in the following set of mutual funds whose returns are all normally distributed with the indicated means and standard deviations: The correlations between the...
-
Each year, the Schriber Corporation must determine how much to contribute to the company's pension plan. The company uses a 10-year planning horizon to determine the contribution, which, if made...
-
The sheet Inventory lists a grocery store's inventory for two months. Calculate the percent change for each item to two decimal places. If the formula gives an error, put "Initial Stock" in the cell....
-
A local manufacturer produces two different products on the same production line. Product A requires .5 hours of labor while product B requires .8 hours of labor. The total labor available in any one...
-
Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales Expenses: Cost of goods sold Salaries expense Depreciation expense Net income Required:...
Study smarter with the SolutionInn App