Question: Below question needs to be solved using ExcelOM - Please Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the

Below question needs to be solved using ExcelOM - Please

Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows:

Month Price Per Chip ($)
January 1.85
February 2.28
March 1.85
April 2.06
May 1.90
June 2.88
July 1.95
August 1.84
September 1.70
October 1.75
November 2.12
December 1.85

  1. (3 points) Use 3 and 4-month moving average on all the data and plot the averages and the prices.
  2. (3 points) Use 3 and 4-month weighted moving average on all the data and plot the averages and the prices. (0.4, 0.3, 0.3 for 3 month; and 0.5, 0.3, 01, and 0,1 for 4 month)
  3. (3 points) Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of $1.85. Use = .2, then = .4, and finally = .5.
  4. (3 points) Compute the forecasts for each month using trend adjusting exponential smoothing, with an initial forecast for January of $1.85 and trend $0.2. Use = .2, and = .4.
  5. (3 points) Develop a regression relationship.
  6. (5 points) Compare forecasting methods using MAD, MSE, and MAPE.

HINT: ExcelOM calculates all formulas for you if you just plug in the numbers!

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!