You are given the demand and forecast history for a company. According to this, what is the 2-period simple moving average forecast for Week 11?
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You are given the demand and
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- Under what conditions might a firm use multiple forecasting methods?Forecast is calculating estimates of future cycle/s based on data of past cycles -- there is no?Given November actual demand of 61, November forecast of 58, and an alpha of 0.4, November trend value +1.03, Beta of 0.3 what would the forecast including trend (FIT) for the December period be using exponential smoothing model 2? Select one: a. 62.03 b. cannot be found c. 68.76 d. 65.72
- Month Demand Forecast Error Abs Error 1 43 2 52 3 44 4 57 5 43 6 48 7 Sum Mean Bias MAD When using a 4 period moving average forecast (MAF): 1. What is the forecast for month 6? 2. What is the forecast error for month 6?Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniquesThe table shows the values found in the error analysis. What method of forecasting would be best to use? What is the forecasted value? MSE forecast for week 13 Time Series 1.08 14.76 3-week MA 3.04 13.67 exp smoothing 11.04 9.5 Group of answer choices A.) Time Series, forecasted value = 14.76 B.) 3-week MA, forecasted value = 13.67 C.) exp smoothing, forecasted value = 9.5 D.) Time Series, forecasted value = 1.08 E.) 3-week MA, forecasted value = 3.04 F.) exp smoothing, forecasted value = 11.04
- 14.5. For the data in Exercise 14.4, use an a of 0.1 to make a forecast for July F Ft-1 + 0.1(At-1-Ft-1) Months January 15 February 18 March 22 23 27 26 April May June Demand Smoothing unit (At) (St) July 15 15.3 15.97 16.67 17.7 18.53 Forecast for July= 18.53 Forecast (Ft) 15 15.3 15.97 16.67 17.7 18.53An electrical contractor's records during the last five weeks indicate the number of job requests: Week: Requests: 1 2 3 5 25 27 25 26 27 Click here for the Excel Data File Predict the number of requests for week 6 using each of these methods: a. Naive. Number of requests b. A four-perlod moving average. (Round your answer to 2 decimal places.) Number of requestsAs manager of a retail outlet readying for an uncertain Christmas season, you're not sure how many extra staff to hire and you must pre- commit (decide before knowing busyness). What is the most you would be willing to pay for a perfect forecast of season busynesa? (Choose the closest maximum price). Low staff levels $16,333 $22,000 High stafflevels $10,000 $54,000 Season Quiet (30% likelihood) Busy (70% ikelihood)
- 2. Calculate the exponential smoothing forecast for week eight using a=0.2. Week Sales Forecast 1 39 2 44 3 40 4 45 5 38 6 43 7 39 a. 41.63 b. 39.98 c. 40.54 d. 40.03 Instruction: This is consists of one (1) multiple choice question. The question requires deep analysis. Choose the appropriate response for the question. A detailed working out should accompany the responses.Period Actual Forecast Error Abs Error 1 35 40 -5 5 2 38 37 1 1 3 45 41 4 4 4 39 43 -4 4 5 44 42 2 2 6 49 45 4 4 7 46 48 -2 2 8 46 48 -2 2 9 52 47 5 5 10 57 52 5 5 Sum 451 443 8 34 Average 45.1 44.3 0.8 3.4 Calculate the Tracking Signal to two decimal places.What factors would you consider in deciding whether to use wide or narrow control limits for forecast?
