Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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- Given an actual demand this period of 90, a forecast for this period of 58, and an alpha of 0.2, what would the forecast for the next period be using exponential smoothing?arrow_forwardIn October a bike dealer pridicted November demand for 150 hero bikes, actual demand was 161 bikes. Now using a smoothing constant chosen by the organisation of alpha 0.21, the dealer wants to forecast decemdemand using the exponential smoothing model ?arrow_forward(4) Exponential smoothing with a smoothing constant equal to 0.15, assuming a March forecast of 15(000). (Round your intermediate forecast values and final answer to 2 decimal places.) Forecast thousands (5) A linear trend equation. (Round your intermediate calculations and final answer to 2 decimal places.) Yt thousandsarrow_forward
- Use simple exponential smoothing with a=0.6 to forecast chargers sales for February through May. Assume that the forecast for January was 24 chargers. *** Month January Charger Sales 42 February 33 March 28 April 59 May ? a) What will be the forecast for May? b) Calculate the MSE.arrow_forwardUsing exponential smoothing with alpha = .2, and assuming the forecast for period 11 was 80, what would the forecast for period 14 be?arrow_forwardIn August a tractor dealer pridicted september demand for 201 tractors , actual demand was 259 tractors. Now using a smoothing constant chosen by the organisation of alpha 0.21, the dealer wants to forecast October demand using the exponential smoothing model ?arrow_forward
- Given the actual demand of 300, the previous forecast of 300, and an alpha of 0.048 , which one of the following is closest to the forecast for the next period be using simple exponential smoothing? Select one: a. 330 b. 300 c. 420 d. 150arrow_forwardIn a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows: Month Sales 1 16 2 22 3 18 4 20 5 23 Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?arrow_forwardThe Toro Cutlery Company has collected monthly sales information below: MONTH January February March April The company is examining two forecasting methods, moving average and exponential smoothing for forecasting sales. a. What will the forecast be for January the following year using a three-, four-, and five-month moving averages? Do not round intermediate calculations. Round your answers to the nearest whole number. Forecast (January, 3-month MA): 87667 Forecast (January, 4-month MA): 72500 Forecast (January, 5-month MA): 69600 b. What will the forecast be for January the following year using exponential smoothing with a = 0.6? Assume the forecast for February this year is 25,000. Do not round intermediate calculations. Round your answer to the nearest whole number. SALES 25,000 18,000 43,000 110,000 MONTH May June July August SALES MONTH 84,000 September 28,000 October 97,000 November 58,000 December SALES 27,000 105,000 82,000 76,000arrow_forward
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