Using a simple five-day moving average, calculate the daily forecasts for the last 15 days. In...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Using a simple five-day moving average, calculate the daily forecasts for the last 15 days. In addition, what is the forecast for the Monday of this week? Question 2 - (3 marks) Using a weighted average of 0.30 [last day], 0.25 [2 days ago] 0.20 [3 days ago], 0.15 [4 days ago], 0.10 [5 days ago), calculate the forecasts for the last 15 days. In addition, what is the forecast for the Monday of this week? [Continue to the next page] Question 3 - (5 marks) Assume that the forecast for Monday of 4 weeks ago was 450 units. Using an Exponential Smoothing with a = 0.25, calculate the daily forecasts for the last 15 days. If a is unknown, find the best value of the smoothing coefficient (a) that results in the lowest MSE. Question 4-(4 marks) Using your forecast for the last 15 days in parts (b) and (c), calculate MAD, MSE and MAPE for each forecasting method. Between the forecasting methods in parts (b) and (c), which one would you choose? Why? Using a simple five-day moving average, calculate the daily forecasts for the last 15 days. In addition, what is the forecast for the Monday of this week? Question 2 - (3 marks) Using a weighted average of 0.30 [last day], 0.25 [2 days ago] 0.20 [3 days ago], 0.15 [4 days ago], 0.10 [5 days ago), calculate the forecasts for the last 15 days. In addition, what is the forecast for the Monday of this week? [Continue to the next page] Question 3 - (5 marks) Assume that the forecast for Monday of 4 weeks ago was 450 units. Using an Exponential Smoothing with a = 0.25, calculate the daily forecasts for the last 15 days. If a is unknown, find the best value of the smoothing coefficient (a) that results in the lowest MSE. Question 4-(4 marks) Using your forecast for the last 15 days in parts (b) and (c), calculate MAD, MSE and MAPE for each forecasting method. Between the forecasting methods in parts (b) and (c), which one would you choose? Why?
Expert Answer:
Related Book For
Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets
ISBN: 978-0078024061
5th edition
Authors: Frederick S. Hillier, Mark S. Hillier
Posted Date:
Students also viewed these general management questions
-
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...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Consider the case of J polluters and with abatement cost functions C j (e j ) and one pollution victim. Abatement costs are ordered from highest to lowest such that C 1 (e 1 )>C 2 (e 2 )>>C J (e J )....
-
The Booth Company's sales are forecasted to increase from $1,000 in 2004 to $2,000 in 2005. Here is the December 31, 2004, balance sheet: Booth's fixed assets were used to only 50 percent of capacity...
-
What is the Laffer curve?
-
Fill in the Blank. The combustion instabilities are a source of ____________ in engines.
-
House Max Builders constructs modular homes, and last year their cost of goods sold was $18,500,000. It operates 50 weeks per year. The company has the following inventory of raw materials,...
-
1. An employee working in Ontario, being paid a Weekly Gross Salary of $1,500 has the following statutory deductions: CPP of 81.66, EI of 23.70, Combined Federal and Provincial Income Tax of 296.40...
-
Write an HDL module for a hexadecimal seven-segment display decoder. The decoder should handle the digits A, B, C, D, E, and F as well as 09.
-
a. A customer unexpectedly paid a balance of $3,600, which had been written off in a prior year. b. A customer balance of $1,400 from a prior year was determined to be uncollectible and was written...
-
Nina buys a call option on Pandora that has a strike price of $1000 and an expiry in 1 year. The premium she pays for the option is $50. When the option expires the price of Pandora is $1060.00. (All...
-
Prepare the journal entry to record Jevonte Company's issuance of 33,000 shares of its common stock assuming the shares have a: a. $4 par value and sell for $20 cash per share. b. $4 stated value and...
-
What is the present value of a $1,000 per year annuity for five years at an interest rate of 12 percent?
-
Chrysler has a bond outstanding with eight years remaining to maturity, a coupon rate of 5 percent, and semiannual payments. If the market price of the Chrysler bond is $729.05, what is the yield to...
-
Lease Y does not contain a purchase option that the lessee is reasonably expected to exercise, but the lease term is equal to 80% of the estimated economic life of the leased property. Lease Z does...
-
Jagdeep bought a refrigerator with 20% discount on the labeled price. Had he bought at it with 30% discount, he would have saved Rs. 500 more. At what price did he buy the refrigerator? A. Rs 5000 B....
-
A firm has the following balance sheet: Assets Cash Accounts receivable Inventory Plant and equipment $ 15,000 150,000 92,000 170,000 $427,000 Liabilities and Equity Accounts payable Long-term debt...
-
Refer to the first 100 minutes of the computer simulation of the current operation of Herr Cutter's barber shop presented in Figure 12.7 and summarized in Figure 12.8. Now consider the alternative of...
-
A major banking institution, Best Bank, plans to open a new branch office in Little-town. Preliminary estimates suggest that two tellers (and teller windows) should be provided, but this decision now...
-
Ralph Edmund loves steaks and potatoes. Therefore, he has decided to go on a steady diet of only these two foods (plus some liquids and vitamin supplements) for all his meals. Ralph realizes that...
-
For each of the three functions pertaining to cash receipts transactions, formulate two questions that may be used in preparing an internal control questionnaire for this transaction class.
-
For the sales adjustment transaction class, indicate the three main types of transaction that might occur. For each transaction type, indicate one question that might be used in an internal control...
-
What are some of the inherent risk factors that may affect (1) sales transactions and (2) debtors balances?
Study smarter with the SolutionInn App