Month Demand1 452 483 434 485 496 547 478 509 4610 47Using the table above, calculate two forecasts using the following method:-i. First, for periods 4 through 10, develop the exponentially smoothed forecasts using a forecast for period 3 (F3) of 45.0 and an alpha of 0.4.  ii Calculate the weighted moving average for periods 4 through 10, using weights of .70, .20, and .10, with 0.70 applied to the most recent data iii

Q: The following tabulations are actual sales of units for six months and a starting forecast in…

A: To calculate the forecasts for the remaining five months using simple exponential smoothing with α =…

Q: Determine the forecast results for the next 12 months using one of the following methods and provide…

A:

Q: Apply the Regression model forecasting technique of the data to estimate the demand in week 13.

A: Regression analysis is the estimation of associations between a dependent variable and one or more…

Q: The following data are the weekly sales of burger bun for the month of November. Develop a forecast…

A: Solution Step 1 Average sales of week 1 is calculated and seasonal index is calculated by dividing…

Q: Discuss the basic assumptions made when using time series forecasting techniques as opposed to…

A: Several assumptions are made during the Time Series Initial Phase.

Q: Consider the following time series data.    Month  1     2     3      4         5          6…

A: MSE stands for Mean squared error. It calculates the average squared difference between the forecast…

Q: Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10…

A: Exponential smoothing is a forecasting model which considering the actual and forecasting demand…

Q: Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more…

A:

Q: Use the trend projection method, and the trend projection with seasonal adjustment method to create…

A: Find the given details below: Given details: Period Year Month #Passengers 1 2010 January 151…

Q: Which of these exponential smoothing models should be used, and what smoothing parameters should be…

A: The given data in terms of Demand has a trend , hence Double Exponential Smoothing is the most…

Q: Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10…

A: Formulae used:  Exponential smoothing Forecast formula: F(t+1)= Ft+α*(At-Ft) Where,α = Smoothing…

Q: Using the table above, calculate two forecasts using the following method:- i. ii. iii. First, for…

A: (Month)Demand1452483434485496547478509461047

Q: Month Demand 1 45 2 48 3 43 4 48 5 49 6 54 7 47 8 50 9 46 10 47 Using the table above, calculate two…

A: (i) Exponentially smoothed forecasts were calculated using a smoothing constant of 0.4, yielding a…

Q: Year Year Forecast (000) 1 2 3 4.00 7.00 5.00 1 5.00 Registrations (000) a) Calculate the forecasted…

A: The exponential smoothing forecast is a form of time series forecasting that is used to predict…

Q: determine the forecasts for the first four months of 2024 (January, February, March, and April)…

A: MonthSalesJan51Feb55Mar54Apr57May50Jun68Jul66Aug59Sep67Oct69Nov75Dec77

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A: Here, for each period, I have been given the units sold data, This is actual data, I would use two…

Q: Two independent methods of forecasting based on judgment and experience have been prepared each…

A: Given data is

Q: The table below shows forecasts and true values Quarter Forecast True Value 1 327 345 2 332 317 3…

A: Quarter Forecasted valueTrue value 1327345233231733283364330311

Q: Explain the basic assumptions made when using time series forecasting techniques as opposed to…

A: The Time Series Initial Phase makes a variety of assumptions.

Q: Based on the following equation for a moving average forecast, what would have been the three week…

A: Here, each week has the revenue data, I will apply the 3-week moving average technique, the 6-week…

Q: The MAD for Method 1= _____ thousand gallons (round response to three decimal places)

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Q: The following table contains the demand from the last 10 months. Calculate the single exponential…

A: The general formula of exponential smoothing: forecast = actual demand of previous period…

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A: Forecasting methods are techniques and approaches used to predict future outcomes, trends, or events…

Q: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College Year 1…

A: A time series forecasting technique called exponential smoothing may be expanded to handle data with…

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A: The mean absolute deviation (MAD) of the two forecasting techniques can be compared to see which…

Q: Discuss when is time series forecasting used?

A: Forecasting is a strategy for forecasting future events using historical data and knowledge.

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A: Forecasting is a technique used to predict future outcomes on the basis of past data. In business…

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A: The total absolute differences between both the actual value as a whole and the forecast divided by…

Q: Sales of tablet computers at Marika Gonzalez's electronics store in Washington, D.C., over the past…

A: Find the given details below:

Q: Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10…

A: Given, Week Demand 1 20 2 23 3 27 4 37 5 26 6 30 7 35 8 22 9 24 10 29…

Q: National Standard, Inc. sells radio frequency identification (RFID) tags. Monthly demand for a…

A: Note: - Since we only answer up to 3 sub-parts, we’ll answer the first3. Please resubmit the…

Q: Use simple exponential smoothing with a -0.8 to forecast electric scooter sales at Guelph- Humber…

A: Given data, MAY 42 JUNE 47 JULY 45 AUGUST 40

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Q: The following represents the actual demand and two different sets of forecasts using different…

A: Forecasting is the process of estimating the future demand using the previous years' information and…

Q: Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by…

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Q: Use the Naive method to make a forecast for month 3, and then use that information to make a…

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A:

Q: Consider the following yearly demand values for a particular product. Year Demand 1 360 2 389 410 4…

A: The technical analysis methods used to smooth the data price by creating a regular updated average…

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Q: With the multiplicative seasonal method of forecasting: the seasonal amplitude is a constant,…

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.