Question: Based on the data below, use the exponential smoothing method with a smoothing constant of 0.6 to find the forecast of 2023? (enter your answer

Based on the data below, use the exponential smoothing method with a smoothing constant of 0.6 to find the forecast of 2023? (enter your answer to the nearest tenth, i.e., report one decimal point)

Data:

2021 actual demand: 34 and forecast 38

2022 actual demand: 46

2023 forecast?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

QUESTION 1: Cartons of product are supposed to weigh exactly 64 grams. Inspectors want to develop process control charts. Employees weigh six boxes seven times each day (the mean and range of each...

Q:

Based on the data below, use the exponential smoothing method with a smoothing constant of 0.6 to find the forecast of 2023? (enter your answer to the nearest tenth, i.e., report one decimal point)...

Q:

Based on the data below, use the exponential smoothing method with a smoothing constant of 0.6 to find the forecast of 2023? (enter your answer to the nearest tenth, i.e., report one decimal point)...

Q:

Based on the data below, use the exponential smoothing method with a smoothing constant of 0.6 to find the forecast of 2023? (enter your answer to the nearest tenth, i.e., report one decimal point)...

Q:

Based on the data below, use the exponential smoothing method with a smoothing constant of 0.6 to find the forecast of 2023? (enter your answer to the nearest tenth, i.e., report one decimal point)...

Q:

Question 1 1 pts The following table lists the MAD and TS values of two forecasting methods. Forecasting Method 1 Forecasting Method 2 MAD 1.92 1.72 TS - 1.01 -2.12 Which forecasting method is more...

Q:

Year 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 Forecast 4 3 0 4 2 0 4 0 0 4 4 0 4 0 0 Actual demand 5 0 0 4 6 0 4 2 0 4 7 0 4 3 0 1 ) Find the forecast in 2 0 2 4 by the three - period moving average....

Q:

1 ) Find the forecast in 2 0 2 4 by the three - period moving average. 2 ) Find the forecast in 2 0 2 4 by the Exponential Smoothing method. Use a smoothing constant of 0 . 6 . 3 ) Find tracking...

Q:

ROGERS LTE 10:05 PM 58% Operations Management Sust... age. c) Calculate the mean absolute percent error for the two-day mov- ing average. PX 4.9 Dell uses the CR5 chip in some of its laptop...

Q:

Question Warning: Time left 1:27:17 Not yet In any circumstances, you are NOT allowed to take/capture screenshot of any question in full or answered part of this Test. eClass is keeping all...

Q:

A medical researcher measured the pulse rates (beats per minute) of a sample of randomly selected adults and found the following Student's t-based confidence interval: With 95.00% Confidence,...

Q:

1. What is mislaid property? 2. Who may keep mislaid property? 3. Which type of property was the cash that Benjamin found, and why? 4. What is the primary goal of most statutes and common law rules...

Q:

The yield to maturity considers the relationship among a bond's maturity value and Multiple Choice 0 0 : 0 7 7 4 4 the time to maturity, the corporate rate and the current price the current price,...

Q:

In which entity is the Inventory Availability attribute calculated? Group of answer choicesIn which entity is the Inventory Availability attribute calculated? Group of answer choices Product Sales...

Q:

=+What incentives do businesses have in maintaining responsible or ethical standards?

Q:

=+2. Outline the resources perspective. Identify a firm and its core competency; show how it meets the three tests proposed by Prahalad and Hamel that identify it as a source of sustainable...

Q:

=+3. Outline the industry perspective. Choose an example industry and conduct an analysis of its competitive structure using Porters fiveforces model.