Question 2 Firm XYZ observes the demand of its product T9 over 10 periods as follow:...
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Question 2 Firm XYZ observes the demand of its product "T9" over 10 periods as follow: Actual Demand (units) Forecast of "T9" (a=0.7) 200 Period 1 2 3 4 5 6 7 8 9 10 195 210 223 193 188 207 234 211 174 179 Forecast (a=0.3) 200 Requirements: a) Assume an initial forecast of 200 units. Plot a line chart showing the actual demand, the forecast with a = 0.3, the forecast with a = 0.7 over the 10 periods. [Suggestion: Use MS Excel to plot the THREE (3) lines. Copy and paste the chart onto the MS Word report.] (10 marks) b) Compute the Mean Absolute Deviations (MAD) for both a=0.3 & 0.7 during periods 2 to 10. Tabulate your answers. (10 marks) c) Comment on the MAD results obtained in part (b). Use the more accurate a value to forecast the demand for period 11. (5 marks) Note: Keep your answers to ONE (1) decimal place. Question 2 Firm XYZ observes the demand of its product "T9" over 10 periods as follow: Actual Demand (units) Forecast of "T9" (a=0.7) 200 Period 1 2 3 4 5 6 7 8 9 10 195 210 223 193 188 207 234 211 174 179 Forecast (a=0.3) 200 Requirements: a) Assume an initial forecast of 200 units. Plot a line chart showing the actual demand, the forecast with a = 0.3, the forecast with a = 0.7 over the 10 periods. [Suggestion: Use MS Excel to plot the THREE (3) lines. Copy and paste the chart onto the MS Word report.] (10 marks) b) Compute the Mean Absolute Deviations (MAD) for both a=0.3 & 0.7 during periods 2 to 10. Tabulate your answers. (10 marks) c) Comment on the MAD results obtained in part (b). Use the more accurate a value to forecast the demand for period 11. (5 marks) Note: Keep your answers to ONE (1) decimal place.
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Answer rating: 100% (QA)
Certainly Lets tackle each of the requirements stepbystep a To create the line chart showing the actual demand and the forecasts with 03 and 07 we wou... View the full answer
Related Book For
Applied Regression Analysis and Other Multivariable Methods
ISBN: 978-1285051086
5th edition
Authors: David G. Kleinbaum, Lawrence L. Kupper, Azhar Nizam, Eli S. Rosenberg
Posted Date:
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