Question: Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: 1

Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: 1 2 3 4 5 6 Product 1 forecast: 12.0 11.1 10.6 11.4 13.2 12.6 Product 1 sales: 11.0 10.0 12.0 14.0 14.0 12.0 Product 2 forecast: 100.0 100.6 107.4 105.0 103.3 103.3 Product 2 sales: 102.0 106.0 105.0 106.0 107.0 108.0 a. What value of is Wamaco Corp using in its forecasting model? Consider only data from Periods 1 & 2. (Round your answers to 1 decimal place.) b. Calculate the forecast for period 7 for product 1 and product 2 using the rounded smoothing constant values from Part a. (Round your intermediate calculations and final answers to 1 decimal place.) c-1. Using the first six periods of data, calculate the Bias (MFE), MAD, MPE, and MAPE. (Negative answers should be indicated by a minus sign. Round your intermediate calculations and final answers to 1 decimal place.) c-2. Does the forecasting model provide about the same bias and accuracy for both products? multiple choice Yes No

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: a. What value of ( is Wamaco Corp using...

16. Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week 1 2 3 4 5 6 Product 1 forecast 1

Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: Product 1 forecast: Product 1...

Problem 12-16 (Algo) Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: 1 2 3 4 5 6...

Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: 1 2 3 4 5 6 12.0 11.1 10.6 11.0...

Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: Product 1 forecast: Product 1...

Problem 12-16 Algo) Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Weeks 1 2 3 4 5 6...

6. Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: a. What value of is Wamaco Corp....

Please help with explanation and excel! Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts:...

An inexperienced book-keeper has drawn up an incorrect trial balance as at 28 February 2022. Debit Credit RM RM Wages Trade pavables 18,200 43,000 Cash in hand 50,000 3,000 6,000 Rent received Custom...

A survey was conducted on the newspaper readership of 3 dailies; the Mirror, the Citizen and the Times, M, C, T respectively and the following data was obtained: The number of people who read M, C &...

E10.21 (LO 4) (Depletion ComputationsOil) Federer Drilling has leased property on which oil has been discovered. Wells on this property produced 18,000 barrels of oil during the past year that sold...

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...