terested in arriving at a forecast of rentals so that she can order the correct quantities of supplies that go with the leaners. Data for the last 10 weeks are shown here. Week 1 Rentals 18 2 23 3 4 34 17 5 30 6 16 Week 6 7 27 8 25 Forecast 20.75 9 13 . Prepare a forecast for weeks 6 through 10 by using a 4-week moving average. (Enter your responses rounded to vo decimal places.) 10 15
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- 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.Forecast sales for the 7th period. For leveling, use exponential smoothing 0.20 and moving average 3 for averaging; and linear and exponential functions for trend data. Assume an initial exponential forecast of 60 units in period 2 if you decide to use it (i.e., no forecast for period 1). Period Demand 1 67 2 72 3 68 4 20 5 70 6 66 7 68
- Forecast sales for the 11th period. For leveling, use exponential smoothing 0.20 and moving average 3 for averaging; and linear and exponential functions for trend data. Assume an initial exponential forecast of 600 units in period 2 if you decide to use it (i.e., no forecast for period 1). Period 1 2 3 4 5 6 7 8 9 10 Sales 648 590 631 769 745 856 300 962 990 1100Week Forecast Actual Demand 52 48 42 46 3 56 52 4 45 47 true or false Assume that the actual demand is representative of a repeating pattern over 4 weeks. The cyclical index for Week 1 is (approximately) 1.07 The forecast of demand for Week 5 (F5) using a Simple Moving Average (SMA) with 3 weeks is 48.75. The forecast of demand for Week 5 (F5) using exponential smoothing with alpha = 0.3 is 46.4.Marianne Schwartz, the owner of Handy Man Rentals, rents carpet cleaners to contractors and walk-in customers. She is interested in arriving at a forecast of rentals so that she can order the correct quantities of supplies that go with the cleaners. Data for the last 10 weeks are shown here. Part 2 Week 1 2 3 4 5 6 7 8 9 10 Rentals 23 22 25 23 22 11 21 34 19 13 Part 3 a. Prepare a forecast for weeks 6 through 10 by using a 4-week moving average LOADING... . (Enter your responses rounded to two decimal places.) Week Forecast 6 enter your response here Part 4 7 enter your response here Part 5 8 enter your response here Part 6 9 enter your response here Part 7 10 enter your response here Part 8 What is the…
- 6. Marianne Schwartz, the owner of Handy Man Rentals, rents carpet cleaners to contractors and walk-in customers. She is interested in arriving at a forecast of rentals so that she can order the correct quantities of supplies that go with the cleaners. Data for the past 10 weeks are shown here. Week 1 2 3 4 5 Rentals 15 16 24 18 23 Week 6 7 8 9 10 Rentals 20 24 27 18 16 a. Prepare a forecast for weeks 6 through 10 by using a 4-week moving average. What is the forecast for week 11?Marianne Schwartz, the owner of Handy Man Rentals, rents carpet cleaners to contractors and walk-in customers. She is interested in arriving at a forecast of rentals so that she can order the correct quantities of supplies that go with the cleaners. Data for the last 10 weeks are shown here. Week 1 2 3 4 8 9 10 Rentals 20 20 34 26 21 12 21 26 19 14 a. Prepare a forecast for weeks 6 through 10 by using a 4-week moving average. (Enter your responses rounded to two decimal places.) Week Forecast 6 25.25 7 23.25 8 20 9 20 10 19.5 What is the forecast for week 11? 20 rentals. (Enter your response rounded to two decimal places.) b. The mean absolute deviation as of the end of week 10 is rentals. (Enter your response rounded to two decimal places.)Marianne Schwartz, the owner of Handy Man Rentals, rents carpet cleaners to contractors and walk-in customers. She is interested in arriving at a forecast of rentals so that she can order the correct quantities of supplies that go with the cleaners. Data for the last 10 weeks are shown here. Week 1 2 3 4 5 7 8 9 10 Rentals 20 20 34 26 21 12 21 26 19 14 a. Prepare a forecast for weeks 6 through 10 by using a 4-week moving average. (Enter your responses rounded to two decimal places.) Week Forecast
- James and Maddie work for Statesboro Toolworks. Their boss Jenny tells them that she will promote the person who has the best possible forecast for the firm's DG5-S electric tool. Jenny emailed them the demand data from 10 days worth of sales and then asked each to create a forecast for the next 10 days. The table below shows (1) Actual Demand data (2nd Column), James forecast (3rd column), and Maddie's forecast (4th column). Calculate which of the two has the more accurate forecast. Who gets the promotion? The combatant's forecasts and the actual egg production are shown in the table. Which forecaster was more accurate and should be hired as a result of his performance on this trial? Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10 Forecast Forecast (James) (Maddie) 102 102 107 106 105 113 115 113 109 118 124 119 142 136 130 154 148 142 166 160 154 181 174 167 198 190 182 206 202 195 Actual Final solution: The person who gets the promotion will be: What is Maddie's MAPE?…Accuracy of forecasts. The manager of a large manufacturer of industrial pumps must choose betweentwo alternative forecasting techniques. Both techniques have been used to prepare forecasts for a sixmonth period. Using MAD as a criterion, which technique has the better performance record?FORECASTMonth Demand Technique 1 Technique 21 492 488 4952 470 484 4823 485 480 4784 493 490 4885 498 497 4926 492 493 493Marianne Kramer, the owner of Handy Man Rent-als, rents carpet cleaners to contractors and walk-incustomers. She is interested in arriving at a forecastof rentals so that she can order the correct quantitiesof supplies that go with the cleaners. Data for the last10 weeks are shown here. a. Prepare a forecast for weeks 6 through 10 by using a4-week moving average. What is the forecast for week 11?b. Calculate the mean absolute deviation as of the end ofweek 10.