Consider the monthly sales data of a company for last year as well as first six month data for current year. Use a three- quarter weighted moving average, Forecast the sales of company for 3rd Quarter of current year. Use Weights of 4/7, 2/7 and 1/7, giving more weight to more recent data. Note, the 1ist quarter is Jan, Feb and March , 2nd quarter is Apr, May, June, 3rd quarter is July, Aug and Sept, and 4th quarter is Oct, Nov and Dec.  Month Jan Feb Mar April May June July Aug Sept Oct Nov DecLast Year 100 125 135 175 185 200 150 140 130 200 225 250Current Year 125 135 135 190 200 190

Q: If the forecasted demand for the week of August 31 is 360 and α ​= 0.20​, using exponential​…

A: Sept. 7 forecast = Aug. 31 forecast + alpha (Aug. 31 demand- Aug. 31 forecast) Sept. 7 forecast =…

Q: Consider the following set of time series sales data for a growing company over the past 8 months:…

A: The time series plot shows a horizontal pattern.

Q: Monthly sales for a six month period are as follows:  Month Sales Jan 18,000 Feb 22,000 Mar 16,000…

A: 1).  Four-month moving average:

Q: Choose the type of forecasting technique (survey, Delphi, averaging, seasonal, naive, trend,…

A: Forecasting techniques are used to predict the future on the basis of past and present data.…

Q: Explain why forecasting devices such as moving averages, weighted moving averages, and exponential…

A: The average is going The prediction is increased and n is flat, but less susceptible. It provides an…

Q: Consider the following time series data: Week 1     2    3   4    5    6 Value 18  13  16  11 17…

A: The concept used here is forecasting with Moving averages and forecast evaluation using MAE, MSE and…

Q: Using a four-month moving average, determine the two-step-ahead forecast for Julythrough December…

A: Two-step four month moving average forecast for July to December, 2013.

Q: V. Let's Explore / Let's Create 1. Discuss the other types of forecasting methods that financial…

A: Disclaimer: Since you have asked multiple question, so we will solve the first question for you. If…

Q: The following data are for calculator sales in units at anelectronics store over the past 9 weeks:…

A:

Q: Sales for the past 6 months at Computer Success are given here. Month Sales $ January 150 February…

A: Given data is

Q: Using the data set below, what would be the forecast for period 5 using the exponential smoothing…

A: Forecasting is the process of estimating future sales or demand using previous data and information.…

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

A: Stationarity: The first assumption is that the series of data points are stationary. The series is…

Q: Construct a time series plot.  What type of pattern exists?                        Develop a…

A: Solution 1. The time series plot is constructed by taking sales data on Y - axis and months on…

Q: The following equation summarizes the trend portion of quarterly sales of condominiums over a long…

A: Forecasting is a method that produces accurate estimates using historical data as inputs to…

Q: Explain what assumptions do qualitative forecasting systems make

A: Qualitative prediction systems make the following assumptions:

Q: Use exponential smoothing with a=0.2 and a=0.5 to generate forecasts for periods 2 through 6. Use…

A:

Q: Briefly describe the steps that are used to develop a forecasting system.

A: Forecasting is the primary function for predicting the future using the available data to make the…

Q: A manufacturer of printed circuit boards uses exponentialsmoothing with trend to forecast monthly…

A: The image given in step 2 gives a detailed solution of the question that has been asked.

Q: The following equation summarizes the trend portion of quarterly sales of condominiums over a long…

A:

Q: Describe in detail what is a time series forecasting model ?

A: Forecasting is a type of prediction approach that can be used to make future judgments based on past…

Q: Company XYZ is a movie distribution company. It has kept records of total annual movie ticket sales…

A: Forecasting is a method which helps to predict the future based on the given identified past…

Q: Below is a table containing data on product demand for the most recent five months along with the…

A: Given Information:

Q: List three qualitative forecasting methods and discuss one of them in details.

A: Qualitative forecasting techniques depend on immeasurable data like views & intuition. The…

Q: Below is a table containing data on product demand for the most recent five months along with the…

A: The simple moving average forecasting method considers the latest values of the actual demand of a…

Q: Evaluate what is the purpose of a forecast.

A: ‘Business forecasting’ incorporates making informed guesstimates about particular business metrics,…

Q: The accompanying dataset provides data on the monthly usage of natural gas (in millions of cubic…

A: Given data is Alpha = 0.6 Gamma = 0.8

Q: Explain the steps involved in the forecasting process

A: In these modern days, predicting our market share in the global market is little tricky and to how…

Q: hillip Cane, the managing editor of Your Life Magazine, needs to develop a forecasting system for…

A: Month (2020)                          Sales      May                                       50…

Q: The monthly sales for Yazici​ Batteries, Inc., were as​ follows:…

A: The trend projection approach is based on the premise that the factors that influenced past trends…

Q: a) Using a weighted 3-month moving average with weights of 0.60, 0.30, and 0.10, Find the July…

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

Q: Consider the monthly sales data of a company for last year as well as first six-month data for…

A: Given information:

Q: Ordinary least squares technique or linear regression analysis

A: THE ANSWER IS AS BELOW:

Q: Use the data below to solve for the following: Naïve method Unweighted 3 month moving average…

A: Note: - Since we can answer up to three subparts only, we will answer the first three subparts(first…

Q: Consider the following sales data for Bell, Inc. Month Sales ($ Millions) Jan. 10 Feb. 12 March…

A: Weighted moving average M - M=∑i=nWt ×Vt∑i=nWt Where   M = Moving Average Value  V= Actual value  W…

Q: 1. What is the tracking signal for the forecast?

A: Forecasting is the process of predicting future demand according to the previous information or…

Q: Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past…

A: Note: As per the Bartleby guidelines, only the first two parts have been answered.

Q: How would you choose the appropriate number of factors to use in a forecasting model and how would…

A: Note: "Since you have asked multiple questions, we will solve the first question for you. If you…

Q: What is the appropriate type of forecasting method to use in each of the followingscenarios:a.…

A: a. As in this the Holiday Inn, Inc., is attempting to predict the demand next year for motel rooms,…

Q: Make the forecast using the following techniques for the first six months of 2021: 3-month moving…

A: Forecasting refers to the process of making predictions for the future using past and present data.…

Q: a. Forecast April through September using a three-month moving average. b. Use simple exponential…

A: Below is the solution:-

Q: The following data are for calculator sales in units at an electronics store over the past nine…

A: Given Sales data-

Q: Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS…

A: Given:  Weight for the recent quarter or (3rd quarter) = 0.50 Second most recent or (2nd quarter) =…

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

A: Given data Month Sales  Forecast1  Forecast 2 1 770 771 769 2 789 785 787 3 794 790 792…

Q: You manager gave you February 2021 actual sales and sales forecast. This is the only raw data you…

A: A business estimate might be a forecast of future deals income. Deals conjectures are normally…

Q: The current values ​​of sales of a product in a company are as follows: November - 22, December -…

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

Q: A company which installs swimming pools has recently merged with another regional installer. It is…

A: Forecasting in advance helps to estimate the sales that could be generated in the future period.…

Q: Explain why such forecasting devices as moving averages, weighted moving averages, and exponential…

A: Forecasting is the anticipating the future demand considering the historical data. Following are the…

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.