Logan is a new hire as a transportation analyst. One of his carriers that provides service...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Logan is a new hire as a transportation analyst. One of his carriers that provides service for the shipping lane from Philadelphia to Indianapolis asks Logan would it be possible to receive a forecast for the number of trucks shipping in that lane at the beginning of each month (must be in "whole trucks"). Logan is considering the two forecasting methods: Three period WMA and Exponential Smoothing. Given the data and weighting below forecast April through July for each method. Which forecast provides the better result based on Mean Absolute Difference (MAD) and what is the differential for the July Forecast between the two models? Month Demand Jan 190 Feb 195 Mar 214 April 205 May 222 June 230 July 235 WMA t-1 t-2 t-3 0.6 0.2 0.2 Exponential Smoothing: Alpha = .8, March Forecast = 200 WMA; Differential = 3 WMA; Differential = 5 Exponential; Differential = 5 Exponential; Differential = 3 Logan is a new hire as a transportation analyst. One of his carriers that provides service for the shipping lane from Philadelphia to Indianapolis asks Logan would it be possible to receive a forecast for the number of trucks shipping in that lane at the beginning of each month (must be in "whole trucks"). Logan is considering the two forecasting methods: Three period WMA and Exponential Smoothing. Given the data and weighting below forecast April through July for each method. Which forecast provides the better result based on Mean Absolute Difference (MAD) and what is the differential for the July Forecast between the two models? Month Demand Jan 190 Feb 195 Mar 214 April 205 May 222 June 230 July 235 WMA t-1 t-2 t-3 0.6 0.2 0.2 Exponential Smoothing: Alpha = .8, March Forecast = 200 WMA; Differential = 3 WMA; Differential = 5 Exponential; Differential = 5 Exponential; Differential = 3
Expert Answer:
Answer rating: 100% (QA)
To compare the forecasting methods based on Mean Absolute Difference MAD we need to calculate the MA... View the full answer
Related Book For
Personal Financial Planning
ISBN: 978-1111971632
13th edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
Posted Date:
Students also viewed these general management questions
-
Extra Credit Ch.7 Homework 8 Question 2 of 2 < > View Policies Current Attempt in Progress The bank portion of the bank reconciliation for Blossom Company at October 31, 2025, is shown below. BLOSSOM...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Linger Products uses a two-stage allocation method to assign costs to its products. The following information has been provided for March: Units Machine hours Direct labor hours Direct materials...
-
Using raw javascript and HTML create a webpage that has a digital clock and an analog clock. be sure to add a feature to switch between the clocks. the clock should show real time (eastern time)
-
You are a consultant to a firm evaluating an expansion of its current business. The cash-flow forecasts (in millions of dollars) for the project are as follows: Years Cash Flow 0...
-
What are the advantages of using economic value added (EVA1) instead of ROI?
-
(a) Why do some businesses keep a petty cash book as well as a cash book? (b) Kathryn Rochford keeps her petty cash book on the imprest system, the imprest being 25. For the month of April 19X9 her...
-
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal...
-
The Rogers Corporation has a gross profit of $743,000 and $276,000 in depreciation expense. The Evans Corporation also has $743,000 in gross profit, with $47,700 in depreciation expense. Selling and...
-
Your client, Bigco, is considering buying Littleco. Littlecos particulars are as follows: Assets: FMV=100mm; adjusted basis 40mm Liabilities: none Market Value of stock: 130mm Location: Incorporated...
-
Y6 . The TimpRiders LP has operated a motorcycle dealership for a number of years. Amir is the limited partner, Francesca is the general partner, and they share capital and profits equally....
-
What is the slope of the line tangent to the curve y-xy+3=5 at the 1 point (1,2)?
-
Suppose you have the following investment options available: (a) Risk-free asset with a rate of return 8%, and (b) Risky asset earning an expected return 20%, and standard deviation 40%. If you...
-
From a consumer perspective, provide an example of a brand( Apple) that resonates with you. Think of the concepts and definitions from the course textbook and relate it to this post answering the...
-
1. What connection could the decision makers at Colgate have seen between their toothpaste brand and the ready-made meals the brand launched? 2. In your opinion, was there enough consistency between...
-
The data set we'll be using in the midterm assignment, ClaimsData.csv , is structured to represent a sample of patients in the Medicare program, which provides health insurance to Americans aged 6 5...
-
FL A B C D E Metropolitan area Debt Income Unemployment Washington, D.C. 1285 103.5 6.3 Seattle 1135 81.7 8.5 Baltimore 1133 82.2 8.1 Boston 1133 89.5 7.6 Denver 1104 75.9 8.1 San Francisco 1098 93.4...
-
In Exercises discuss the continuity of each function. f(x) -3 1 x - 4 y 3 2 -1 -2 -3+ 3 X
-
What is a standard of living? What factors affect the quality of life?
-
Differentiate among conventional, insured, and guaranteed mortgage loans.
-
What characteristics would be most important to you when choosing an insurance agent?
-
\(45-6 \times 7^{3}\) Perform the indicated calculation.
-
\(72 \div 6+18\) Perform the indicated calculation.
-
\(6^{2} \times 5-13 \times 9^{2}\) Perform the indicated calculation.
Study smarter with the SolutionInn App