4. The sales (in millions of dollars) for a 15-month period are as follows.MonthSalesMonthSales390947025651010003395114904501248549013525560145507420155308.565a. Compare a three-month moving average forecast with an exponential smoothingforecast. Use a = 0.2. Find MSE for both methods.b. Which provides the better forecasts based on MSE?C. Find the forecast for the next month using the best forecast method.5.

Answered: a. Compare a three-month moving average…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Sales for the past 6 months at Dalworth Company are given in the following table: O Month July August September October What is the Mean Absolute Deviation (MAD) for August through December forecasts produced by using exponential smoothing with a = 0.9? (Note: Do not round the forecasts, and choose the closest answer.) Multiple Choice O November December O 15.28 9.04 8.75 Sales 52 61 53 35 31 28 31.59
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It wouldnt let me take a screenshot of the table so I had to copy and paste it in here. My question is: How do you Calculate a moving average forecast using the last 2 and 4 dates of stay. What is the prediction for 7/1/2021 for each technique? Discussion Question 1 - 200 room hotel Forecasts MA 2 Errors MA 4 Errors ES (0.8) Errors ES (0.5) Errors Date Day of Week Rooms Sold MA 2 MA 4 ES (0.8) ES (0.5) AE APE AE APE AE APE AE APE 6/1/2021 Tuesday 123 6/2/2021 Wednesday 109 6/3/2021 Thursday 140 6/4/2021 Friday 199 6/5/2021 Saturday 179 6/6/2021 Sunday 140 6/7/2021 Monday 117 6/8/2021 Tuesday 132 6/9/2021 Wednesday 108 6/10/2021 Thursday 151…
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Forecast bias is useful to determine a. Seasonality b. Trends c. if forecast error is truly random d. the exponential smoothing factor
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Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 120 February 145 March 146 April 171 May 154 June 182 July 138 August 135 September 146 a. Forecast April through September using a three-month moving average. b. Use simple exponential smoothing with an alpha of 0.20 to estimate April through September, using the average of January through March as the initial forecast for April. c-1. Calculate MAD for Three-month moving average and Exponential smoothing. c-2. Use MAD to decide which method produced the better forecast over the six-month period.

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a. Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.2. Find MSE for both methods. b. Which provides the better forecasts based on MSE? C. Find the forecast for the next month using the best forecast method.