Question: Use the below data to answer questions 26-32 on the homework. The number of flowers sold at The Blossom Shop on Fridays is shown in
Use the below data to answer questions 26-32 on the homework.
The number of flowers sold at The Blossom Shop on Fridays is shown in the table below.
| Week | Demand | Week | Demand | Week | Demand |
| 1 | 110 | 6 | 95 | 11 | 118 |
| 2 | 105 | 7 | 99 | 12 | 100 |
| 3 | 108 | 8 | 101 | 13 | 105 |
| 4 | 103 | 9 | 115 | 14 | 107 |
| 5 | 98 | 10 | 125 | 15 | 113 |
Round off all calculations to two decimal places. Maintaining two decimal places is required for all calculations
1) What is the forecast for week 16 using exponential smoothing with = 0.2? Assume that the forecast for week 1 was 110.
2) What is the forecast for week 16 using exponential smoothing with = 0.6? Assume that the forecast for week 1 was 110.
3) What is the mean square error for the forecast with = 0.2 as of week 15? Do not use week one in your calculations.
4) What is the mean square error for the forecast with = 0.6 as of week 15? Do not use week one in your calculations.
5) What is the period 15 tracking signal for the forecast with = 0.2?
6) What is the period 15 tracking signal for the forecast with = 0.6?
7) Assume that the control limits for the tracking signal are 4. What can be concluded about the quality of the forecasts using = 0.20 or = 0.60?
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