Question: Forecasting 1. Demand data collected on yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table Year 1

Forecasting 1. Demand data collected on yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table

Year	1	2	3	4	5	6	7	8	9	10	11	12
Registration	4000	6000	4000	5000	10000	8000	7000	9000	12000	14000	15000

a. Estimate (forecast) demand again for years 4-12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 0.50, 0.25, and 0.25.

b. Estimate (forecast) demand again for years 1-12 using exponential smoothing with a smoothing constant of 0.3. To being, assume that the forecast for year 1 was 5,000 people.

c. Compute the MAD forecasting error for each forecast. Which forecast is better?

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!

1. Demand data collected on yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year Registrations 1 4000 2 6000 3 4000 4 5000 5 10000 6 8000 12 Year...

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...

Question 1 Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year 1 2 3 4 5 6 7 8 9 10 11 Registrations (000) 4 6 4 5 10 8 7...

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year Registrations (000) 1 2 3 4 5 6 7 8 9 10 11 4 6 4 5 10 8 7 9 12 14 15...

Data collected on the yearly registrations for a six sigma seminar at the quality college are shown in the following table: year: 1 2 3 4 5 6 7 8 9 10 11 registrations: 4 6 4 5 10 8 7 9 12 14 15 use...

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: 12345 6 7 8 9 10 11 Year Registrations (000) a. Develop a 3-year moving...

Points: 0 of 1 Save Cafe Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the...

Problem 4.100 Question Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table. 1 2 3 4 5 6 7 8 9 10 11 Year Registrations (000) 5 5...

1. Problem 4.6, Page 140 (Forecasting Handout .pdf) Imn X Bb KM_754e-20171005082628 X 2022-05-10 15.26.17 BUSN 3430 X 4 2022-04-12 15.38.17 BUSN 3430 X...

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table. Year 1 2 3 4 5 6 7 8 9 10 11 4 6 11 8 6 9 11 14 12 Registrations (000) 4 6...

Rand Corporation owns 100 percent of the stock of Flo, a foreign corporation con-ducting business in Portugal. Flo generates $100,000 before-tax annual income on which it pays a 30 percent Portuguese...

The following information was reported by Kramers Air Cargo Service for 2008: Net fixed assets (beginning of year) ...... $1,900,000 Net fixed assets (end of year) ........ 2,300,000 Net sales for...

If the callable bond is issued with the same coupon rate as an otherwise similar straight bond, an investor would expect it to sell at a to the straight bond.

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...