Given the following historical data, what is the moving-average forecast for period 6 based on the last three periods? Period Value 1 73 2 68 3 65 4 72 5 67 (Round your answer to 2 decimal places.) (Round your answer to 2 decimal places.)
Q: 2. Seasonality Index table Period Year Seasonality Index (SI) 2021-period 1 2021-period 2…
A: Since the first question is incomplete we have answered the second question with the available data…
Q: The Pro Apparel company manufactures baseball-stylecaps with various team logos. The caps come in an…
A: Forecasting is a tool to recognize problems and opportunities in the business and turning it into…
Q: snip
A: Forecast Error = 4, 8, and -3 Forecast Error | Forecast Error| Error2 1 4 4 16 2 8 8 64 3…
Q: Explain the term “wrong” as it pertains to a good forecast?
A: In forecasting techniques, the word "wrong" refers to a difference between the real and forecasted…
Q: If your forecast for 2022 is 40, using the seasonal index below, what is your forecast for 2nd…
A: Seasonal forecast = Forecast for a period * Seasonal index of that period Given, Total forecast = 40…
Q: Given forecast errors of 4, 8, and −3, what is the mean absolute deviation (MAD) and mean square…
A: Forecast errors = 4,8 and -3 Absolute errors = 4, 8 and 3
Q: Calculate a two-month moving average for months two to seven. what would be your forecast for the…
A: Fn+1 = (An + An-1)/2 where F = ForecastA = Actual datan = Period
Q: a) Using exponential smoothing and given a, the forecast for the month of July =million checks…
A: Below is the solution
Q: 10. What is the approximate forecast for May using a four-month moving average? a.38 b.43 c.44 d. 47
A: Given data is
Q: a. Predict the sales for Jasmine Slush using the following forecasting methods: - naïve (use simple…
A: Forecasting is to predict the uncertain future of demand and sales. There are various methods to do…
Q: The Oceanside Hotel is adjacent to City Coliseum, a 24,000-seat arena that is home to the city’s…
A: Given data is
Q: Given a 3-quarter period of actual and forecast demand as shown in the table. The company ABC sets a…
A: A forecasting method is a managerial tool which help to predict the unknown future based on…
Q: The number of internal disk drives (in million) made at a plant in Taiwan during the past 5 years…
A: a. Forecast using simple linear regression: Year (X) Disks (Y) X×Y X2 1 142 142 1 2 156 312…
Q: snip
A: Given errors are: 3, 2, -2, 9 Running Sum of Forecast Errors (RSFE), is given by: RSFE = ∑ Errors…
Q: Complete the "Forecast for tomorrow" column in the table above. Use an exponential smoothing…
A:
Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…
A: Given data is
Q: Given the following historical data, what is the moving-average forecast for period 6 based on the…
A: Calculation of moving average forecast for period 6 based on the last three periods:The formula for…
Q: Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week…
A: Forecasting is a process that uses recorded data as inputs to make informed estimates that are…
Q: The following table shows the actual demand observed over the last 11 years: Year 1 2 4 7 8 10 11…
A: Given - Table for demand seen in past years- Year Actual Demand 1 6 2 9 3 4 4 9 5 13…
Q: ) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: Auto sales at Carmen's Chevrolet are shown below. Using a 3-week weighted moving average (w₁-0.5,…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: The operations manager using a combination of methods has forecast sales of Lomi Cup Orders at the…
A: Given data is
Q: Demand and forecast for 5 months are given below: Month Demand Forecast 1 50 46 2 52 52 3…
A: Tracking Signal is used to determine the larger deviation (in both plus and minus) of Error in…
Q: Given the actual demand for years 2013/14, calculate the total forecast for year 2015, as well as…
A: Below is the solution:-
Q: What are some of the consequences of poor forecasts? Explain.
A: The Consequences of the poor forecast are:
Q: hovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12…
A: a) b)
Q: How does the number of periods in a moving average affect the responsiveness of the forecast?
A: A moving average forecast method takes into account instead of the last actual data, a number of…
Q: Given the following data, use exponential smoothing with a = 0.1 and a = 0.6 to generate forecasts…
A: Given data a=0.1 and 0.6 as smoothing constants MAD AND MSE which is better Exponential smoothing…
Q: The following table shows the actual demand observed over the last 11 years:…
A:
Q: 1. The Southern Pizza Parlor is a small restaurant. One of the customers' favorites is Southern…
A: Forecasting helps to know the sales of the product in advance so that appropriate stock levels are…
Q: Number of Accidents 25 45 64 95 Using the least-squares regression method, the trend equation for…
A: NOTE: We are allowed to do only one question at a time. The regression equation is of the form:…
Q: snip
A:
Q: Based on the time series data presented above, do the forecasts using 2-month moving average (2-MA)…
A: THE ANSWER IS AS BELOW:
Q: Find the forecast for April using Weighted Moving Average method given the below the actual sales in…
A: Weighted moving average is a forecasting method which helps to identify the forecasting using the…
Q: b) If the check-processing center received 45 million checks in the month of July, then using…
A: Forecasting is the process of predicting the future demand or sales of customers based on previous…
Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…
A: The solution for the above is mentioned in the below excel spreadsheet as follows.
Q: What effect does the number of cycles in a moving average have on the forecast's responsiveness?
A: In order to estimate potential demand, the Moving Average (MA) projection method uses the MA formula…
Q: Use simple exponential smoothing with a 0.6 to forecast chargers sales for February through May.…
A:
Q: b. Using exponential smoothing with a = 0.40, if the exponential forecast for week 3 was estimated…
A: Exponential smoothing is a forecasting model which helps to identify forecasting value using the…
Q: Given forecast errors of 5, 15, and −5, what is the mean absolute deviation? a.6.67 b.5 c.8.33 d.15…
A: Forecasting is the process of estimating the future demand based on previous or historic data and…
Q: Give an example of forecasting a pet store
A: The forecast is defined as the projection based on past data. Past data, though, is factual, yet…
Q: b. Compute all possible forecasts using a five-period moving average. (Round your answers to 1…
A: Forecasting is the technique that is used to predict future trends on the basis of historical data.…
Q: Which forecasting technique can place the most emphasis on recent values? How does it do this?
A: The forecasting technique that can place the most emphasis on recent values is exponential smoothing…
Q: Explain when is time series forecasting used ?
A: Forecasting is the process of predicting future events based on previous data and information.
Q: Use a three-period moving average method to determine forecast value for time 5 to 7. Use an…
A: THE ANSWER IS AS BELOW:
Q: a) Calculate the forecasted registrations for years 2 through 12 using exponential smoothing, with a…
A: ANSWER IS AS FOLLOWS:
Q: While monitoring the forecast values in last 5 months, the tracking signals are consistently coming…
A: The tracking signal is given the ratio of accumulated forecast error to average error, with 0 being…
Q: orecast sales for the 11th period. For leveling, use exponential smoothing 0.20 and moving average 3…
A: THE ANSWER IS AS BELOW:
Q: What is the expected sales for the 7th week based on 3 period moving average. What is the forecast…
A: Forecasting is the process of predicting the future demand using previous or historic information.
Given the following historical data, what is the moving-average
| Period | Value |
| 1 | 73 |
| 2 | 68 |
| 3 | 65 |
| 4 | 72 |
| 5 | 67 |
(Round your answer to 2 decimal places.)
(Round your answer to 2 decimal places.)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Under what conditions might a firm use multiple forecasting methods?The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?
- The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?
- Sales of hair dryers at the Walgreens stores in Youngstown,Ohio, over the past 4 months have been 100, 110, 120, and 130units (with 130 being the most recent sales).Develop a moving-average forecast for next month, usingthese three techniques:a) 3-month moving average.b) 4-month moving average.c) Weighted 4-month moving average with the most recentmonth weighted 4, the preceding month 3, then 2, and theoldest month weighted 1.d) If next month’s sales turn out to be 140 units, forecast the following month’s sales (months) using a 4-month mov-ing average.Given the following historical data, what is the simple three-period moving average forecast for period 6? Period Demand 1 73 2 71 3 72 4 73 66 5 (Keep two decimal places in your answer)Following table shows the weekly sales of smart phones at electronic retail store: Week Number of smart phones Sold Forecast using 3 period moving average Error Forecast using exponential smoothing (with α =0.4) Error 1 48 2 41 3 55 4 64 5 62 6 55 7 8 Answer the following questions based on the data given above. Show all your calculations. What is the expected sales for the 7th week based on 3 period moving average. What is the forecast for the 8th week using the same method if the actual sales for week 7 happens to be 70? What is the expected sales for the 7th week based on exponential smoothing with α = 0.3? Which of the above two forecasting method is better based on MSE? Explain why?
- After using your forecasting model for six months, you decide to test it using MAD and a tracking signal. Here are the forecast and actual demands for the six-month period: PERIOD May June July August September October Period FORECAST 450 500 550 615 635 710 a. Find the tracking signal. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) May June July August September October ACTUAL 495 545 395 460 675 625 Tracking Signal 1.00 2.00 (0.80) (2.20) (2.38) (3.50)The manager of a travel agency asked you to come up with a forecasting technique that will best fit to the actual demand for packaged tours. You have observed and recorded the actual demand for the last 10 periods. You also identified two possible techniques for consideration: 2-month moving averages (F1), and exponential smoothing (F2) with a smoothing constant of 0.25. Using Cumulative Forecasting Error (CFE) and Mean Absolute Deviation (MAD) as your performance measures you will determine the technique that will best fit to the actual demand data provided in the following table.STEP 1: Given start forecast values in period 3, compute forecast values from period 4 to 10. You are asked to provide the forecast values for period 6 and 10 for both techniques. 2-Month MA Exponential Period Demand F1 F2 1 115 -- -- 2 176 -- -- 3 97 146 129 4 141 5 98 6 132 7 114 8 129 9 107…The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows Year Mileage 1 3,100 2 4,000 3 3,450 4 3,850 5 3,750 a) Using a 2-year moving average, the forecast for year 6 = 3800 miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MAD based on this = 108.3 miles (round your response to one decimal place). (Hint. You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of 0.60 is for the most recent period) = miles (round your response to the nearest whole number)
