McCall's Garden Supply has seen the following annual demand for lime bags over the past 11...
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McCall's Garden Supply has seen the following annual demand for lime bags over the past 11 years. A_ Develop 2-year moving average to forecast the next period demand (1pt) BDevelop a 4-year moving average to forecast the next period demand. [1pt) C Forecast the next period demand with a 3-year weighted moving average in which demand in the most recent year is given a weight of 4 and demands in the other two past vears are each given a weight of 1. (2pts) D_ Forecast demand by using exponential smoothing with a smoothing constant of 0.4. Assume that the forecast for 2007 is 6 (x1,000) bags to begin the procedure. (2pts) E Determine the optimum smoothing constant using SOLVER. Forecast the next period demand with the optimum smoothing constant ( Assume that the forecast for 2007 is 6 (x1,000) bags to begin the procedure). (2pts) F_Which of the forecasting methods analyzed here would you choose? Explain your answer. Create a comparison table to show the necessary measurements to compare the forecasting models that you analyzed. (2pts) Hint: ExcelModulev3 Add-inn will create a single worksheet for each question by default. You can name the worksheets as la; 1b,1c,1d,1e, and 1f Year Bags (thousands) 4 8. 9. 9. 6. 8) 7) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016| 2017 13 14 16 4 00D (0|0 OMO O McCall's Garden Supply has seen the following annual demand for lime bags over the past 11 years. A_ Develop 2-year moving average to forecast the next period demand (1pt) BDevelop a 4-year moving average to forecast the next period demand. [1pt) C Forecast the next period demand with a 3-year weighted moving average in which demand in the most recent year is given a weight of 4 and demands in the other two past vears are each given a weight of 1. (2pts) D_ Forecast demand by using exponential smoothing with a smoothing constant of 0.4. Assume that the forecast for 2007 is 6 (x1,000) bags to begin the procedure. (2pts) E Determine the optimum smoothing constant using SOLVER. Forecast the next period demand with the optimum smoothing constant ( Assume that the forecast for 2007 is 6 (x1,000) bags to begin the procedure). (2pts) F_Which of the forecasting methods analyzed here would you choose? Explain your answer. Create a comparison table to show the necessary measurements to compare the forecasting models that you analyzed. (2pts) Hint: ExcelModulev3 Add-inn will create a single worksheet for each question by default. You can name the worksheets as la; 1b,1c,1d,1e, and 1f Year Bags (thousands) 4 8. 9. 9. 6. 8) 7) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016| 2017 13 14 16 4 00D (0|0 OMO O
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Related Book For
Managerial Decision Modeling with Spreadsheets
ISBN: 978-0136115830
3rd edition
Authors: Nagraj Balakrishnan, Barry Render, Jr. Ralph M. Stair
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