1. How is the judgmental forecasting executed? 2. How is judgmental forecasting relevant in making decisions? 3. Differentiate Weighted Moving Average Forecast from Smoothing Forecast?
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A: Forecast for Friday using naive approach = Actual demand of previous period(Thursday) = 12.
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A: * SOLUTION :- *(8)
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Q: What action should be taken when unacceptable error is found in tracking a forecast?
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A: As you have asked above the answer of your question is below.
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- Short-range forecasts tend to ________ longer-range forecasts. A. deal with more comprehensive issues than B. use Delphi method approaches more often than C. None of these answers are correct D. employ the same methodologies as E. be less accurate thanHow Forecasts is compared with predicted values? why these both terms are different?2. Montyboy Pet Shop ships boxed can dogfood anywhere in the country. Using the following information, forecast the shipments for the first four months. Seasonal Relative Month January February March 1.2 1.3 1.3 1.1 0.8 0.7 The monthly forecast equation being used is: Yt = 402 + 3t April May June Where: to = January last year Yt = number of shipments Month July August September October November December Seasonal Relative 0.8 0.6 0.7 1.0 1.1 1.4 Question: Determine the trend amounts for the first four months of the next year assuming January, t=24; February, t=25; etc. Note: Round answers to whole numbers.
- Director Very Busy needs to allocate time this week for office appointments, so he needs to forecast the number of employees who will seek appointments. The director has gathered the following time series data recently Period Employee Appointments 4 weeks ago 95 3 weeks ago 80 2 week ago 65 last week 50 a. What would naive forecasting suggest as the number of employee appointments that can be expected this week? " b. b. What is this week's forecast for employee appointments using a 3-week moving average? What would the same forecast be using a 2-week moving average?"Director Very Busy needs to allocate time this week for office appointments, so he needs to forecast the number of employees who will seek appointments. The director has gathered the following time series data recently Period Employee Appointments 4 weeks ago 95 3 weeks ago 80 2 week ago 65 last week 50 a. What would naive forecasting suggest as the number of employee appointments that can be expected this week? "b.Question 1 The below graph plots the daily prices of Gold over time. a) Examine the plot and describe the issues that may arise using this time series data for forecasting. Offer solutions to these issues. b) Offer a suitable forecasting method for this data. р об 600- 500- 400- 300- mm der demate my Marmar 200 - 400 600 Time 800 1000
- What action should be taken when unacceptable error is found in tracking a forecast?Which of the following approaches can help you mitigate the challenges of poor forecasts? a. Obtain and use the best, most recent information available b. Always use simple forecasting techniques c. Build flexible operations d. Minimize inventory Oe. All of the above Of. a and c'only g. b and d only1. Identify a company of your choice in Oman and write a brief detail about the company including their name, location, and the type of product they sell. 2.Assuming you are a Sales Consultant to the company, how best would you advise the company for their "business buying decision process"? Explain. 3. Do you think forecasting is important to the company? Briefly explain why?
- This is a Business Forecasting Question. I know the 3 stages for the evolution of forecasting are 1. Times Series Model 2. Demand Planning Model 3. Predictive Analytics Models I have questions in my homeworks about these stages, but they don't call them what I was given. I have the answer choices: Judgemental, Big Data, Quantitative, and Time Series. Obviously Time Series is one, but what are the other 2 Called. I am not putting the specifics of the questions because that's not what I'm asking. I'm just hoping that someone can clarify these 3 stages for me. I realize that I listed 4 things which means that one is not a stage. I think Big Data isn't a stage, but please correct me if I'm wrong.A police station had to deploy a police officer for an emergency multiple times in the last four evenings. The table below shows the number of emergencies each evening. Weekday Number of calls each day Monday Tuesday Wednesday 9. 12 Thursday 12 What would be their forecast for Friday using a naïve forecasting approach? Forecast for Friday calls KPrev 4 of 5 Nextforecasts? 7. Contrast the use of MAD and MSE in evaluating forecasts. 8. What advantages as a forecasting tool does exponential smoc