Question: YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 Unit 1 4182 4049 4235 4083 3683 3230 3240 3180 Unit 2 2353 2199 2203

YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017

YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 Unit 1 4182 4049 4235 4083 3683 3230 3240 3180 Unit 2 2353 2199 2203 2248 2263 2218 2244 2292 Unit 3 3470 3653 3594 3324 2905 2552 2425 2236 Unit 4 4218 4586 4573 4859 5162 5059 4892 4779 Unit 5 3200 3274 3303 3243 3495 3761 3773 3767 Unit 6 2347 2380 2307 2475 1598 1344 1363 1370 NOTE: This data is from the Unit 5 Reading PDF. You were asked to write down your best guess for what you think each unit's 2017 data might be. (You could also ask a few of your friends what THEIR guesses would be for the 2017 values for each of the six units, and you will probably get different opinions about how to make such estimates.) Predicting the future is difficult, but at least now you are aware of some common forecasting techniques and the method behind the forecasting model. (a): What is the 2017 predicted value for Unit 2 using the Nave method? (b): What is the 2017 predicted value for Unit 3 using the 3-month moving average? (c): What is the 2017 predicted value for Unit 4 using the 6-month weighted average with weights of .1,.1,.1,.2,.2, and.3 (with .3 being the most recent year)? (d): What is the 2017 predicted value for Unit 5 using Exponential smoothing with an a = .3? Assume the exponential smoothing starts in year 2012 with the value 3259 (based on the average of the actual 2009-2011 values), and all the exponential smoothing values for the years that follow are calculated using the exponential smoothing equation explained in the Unit 5 time series forecasting models video starting at time 12:17. ((NOTE: You don't need any exponential smoothing values for years 2009-2011 as they are before the "anchor in year 2012.)) (e): What is the 2017 predicted value for Unit 6 using the trend progression prediction? (Use the trend line formula to predict the next value in the series)

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