DigiSonic would also like to explore a more sophisticated forecasting method. They want you to consider...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
DigiSonic would also like to explore a more sophisticated forecasting method. They want you to consider exponential smoothing. a. Using simple exponential smoothing, compute three sets of forecasts for the sales of DigiSonic's Blu-Ray discs, corresponding to a values of 0.2, 0.5 and 0.8. Assume that the forecast for month 1 is 1376. (8pt) b. To visually see the difference between forecasts and actual demand, plot the actual demand as well as the three simple exponential smoothing forecasts computed in the same graph. Identify which value of a produces the most responsive forecast? What is the implication of this finding? (4pt) c. Calculate the MAE and Mean Absolute Percentage Error (MAPE) using the forecast errors for each of these three sets of forecasts. Which a value seems to be most appropriate and explain why. (3pt) DigiSonic would also like to explore a more sophisticated forecasting method. They want you to consider exponential smoothing. a. Using simple exponential smoothing, compute three sets of forecasts for the sales of DigiSonic's Blu-Ray discs, corresponding to a values of 0.2, 0.5 and 0.8. Assume that the forecast for month 1 is 1376. (8pt) b. To visually see the difference between forecasts and actual demand, plot the actual demand as well as the three simple exponential smoothing forecasts computed in the same graph. Identify which value of a produces the most responsive forecast? What is the implication of this finding? (4pt) c. Calculate the MAE and Mean Absolute Percentage Error (MAPE) using the forecast errors for each of these three sets of forecasts. Which a value seems to be most appropriate and explain why. (3pt)
Expert Answer:
Answer rating: 100% (QA)
b To visually compare the forecasts and actual demand we plot the actual demand and the three sets o... View the full answer
Related Book For
Posted Date:
Students also viewed these general management questions
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
You have completed your first meeting with Harper and Riley Evans. You are confident that you now have most of the information you will need to prepare a comprehensive financial plan for them. Beyond...
-
We have discussed many concepts in SCM 301 related to planning, sourcing, making and delivering products and services. The purpose of this case analysis is to integrate the different elements of the...
-
In an organization that has high employee satisfaction, ______. Multiple choice question. customer interactions are forced and scarce employee turnover is high more positive interactions take place...
-
How difficult was it to come up with a different way of structuring the organization?
-
Find the area of the region enclosed by r = a cos (n) for n = 1, 2, 3, . . . Use the results to make a conjecture about the area enclosed by the function when n is even and when n is odd.
-
The \(\mathrm{W} 10 \times 45\) is made of A- 36 steel and is used as a column that has a length of \(15 \mathrm{ft}\). If the ends of the column are fixed supported, can the column support the...
-
The following information is extracted from the accounting records of the Shelton Corporation at the beginning of 2007: Accounts Receivable .........$63,000 Allowance for Doubtful Accounts.....1,400...
-
What would you say to a disruptive employee to turn them around and get them back on the right track. Also introduce the employees to the process of cash flow analysis, breakeven analysis, and return...
-
At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis. Given on the form below are the current annual and monthly salary rates for...
-
My personal goals for the next five years include: getting my wisdom teeth removed, moving across the country, finding a job in HR to start my new career, buying a house, and getting married to my...
-
a) Discuss how your attitude to power and authority would differ from that of your team members. How flexible would you be to adapt to the teams expectations based on their cultural diversity? b)...
-
Nurse Jan is typically an energetic person who enjoys working as a nurse on the oncology floor. Lately, she has not had much interest in talking about her work, she seems tired, and even small tasks...
-
Give two (2) examples of communication strategies when implementing a continuous-improvement initiative. Give Two (2) examples of business-related processes related to your chosen communication...
-
1. Can you give examples of any successful OD programmes? Draw on recent research for your answer. 2. You have been asked to give a talk to a postgraduate management conference on The qualities...
-
When does letter writing become your job instead of the doctors job? Why must you be in charge of something that could be very important to the doctor and the patient? What skillset do you need to be...
-
Firm NILO considers issuing F = $10M face value zero-coupon debt. Over each of the two years, the firm may default with default intensity = 30%. If the firm defaults, the bondholders recover only R...
-
Draw and label the E and Z isomers for each of the following compounds: 1. CH3CH2CH==CHCH3 2. 3. 4. CH,CH2C CHCH2CH Cl CH3CH2CH2CH2 CH CH2CCCH2CI CHCH3 CH3 HOCH CH CCC CH O-CH C(CH
-
What did Julie conclude about the data pattern of Alomega Sales? In Example 1.1, the president of Alomega, Julie Ruth, had collected data from her company's operations. She found several months of...
-
The Triton Energy Corporation explores for and produces oil and gas. Company president Gail Freeman wants to have her company's analyst forecast the company's sales per share for 2000. This will be...
-
Figure P-23 is a time series plot of the weekly number of Influenza A Positive cases in a region of Texas from the week of September 2, 2003, to the week of April 10, 2007. The number of cases peaks...
-
Liquefaction can be achieved through (a) Expansion of gas through a work-producing device (isentropic expansion) (b) Joule-Thomson expansion (isenthalpic expansion) (c) Exchange of heat at constant...
-
To estimate the Ozone Depletion Potential of a refrigerant (a) \(\mathrm{CFC}-11\) is used as a reference gas (b) \(\mathrm{CFC}-12\) is used as a reference gas (c) \(\mathrm{CO}_{2}\) is used as a...
-
To compute the Global Warming Potential of a refrigerant (a) HFC-134a is used as a reference gas (b) Hydrocarbon is used as a reference gas (c) \(\mathrm{CO}_{2}\) is used as a reference gas (d)...
Study smarter with the SolutionInn App