
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Question
![Given an actual demand this period of 103, a forecast value for this period of 99, and an alpha of .4, what is the exponential smoothing
forecast for next period?
Forecast = [Blank1]
94.6
103.0
100.6
O 97.4](https://content.bartleby.com/qna-images/question/7d3ae8d7-5658-4ed4-9668-4ee58a946812/d6ca1a18-36d4-4c71-8dc0-7250f1ab844a/l8bin8j_thumbnail.png)
Transcribed Image Text:Given an actual demand this period of 103, a forecast value for this period of 99, and an alpha of .4, what is the exponential smoothing
forecast for next period?
Forecast = [Blank1]
94.6
103.0
100.6
O 97.4
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps

Knowledge Booster
Similar questions
- The sale of cycles in a shop in three consecutive months are given as 70, 68 and 82 units respectively. Exponential smoothing method with a smoothing constant of 0.4 is used in forecasting. Assume the forecast for the first month is 70 units. The expected number of sales (round off to the nearest whole number) in the 4thmonth is: a. 66 units. b. 71 units. c. 76 units. d. 81 units.arrow_forwardUse exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, � = 0.3, and let the initial trend value be 12 and the initial forecast be 200arrow_forwardHelp Saved Mary, Susan, and Sarah are running a beach boutique on the board walk of Ocean City. Their favorite product is a red lifeguard hoody. Mary believes it will sell 318 times next season. Susan forecasts sales of 518, and Sarah forecasts 199. What would be the result of a simple forecast combination? (Round to two decimal places)arrow_forward
- 8.6 Using exponential smoothing, calculate the forecasts for months 2, 3, 4, 5, and 6. The smoothing constant is 0.2, and the old forecast for month 1 is 245. Month 1 2 3 4 5 6 LO Actual Demand 260 230 225 245 250 Forecast Demandarrow_forwardAssume Sandra's forecasted ADR for the night is $1600.99. What would be her estimated total room revenue for this day? ADR = Total room revenue / Number of rooms soldarrow_forwardGiven 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_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_forwardUse 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_forward
- Forecast error is calculated as: Actual - Forecast O Forecast - Actual (Forecast - Actual) ^ 2 Absolute (Actual - Forecast) (Actual - Forecast) ^ 2arrow_forwardRespond to each of the items using the following time series data. Period Demand 144 2 172 3 157 4 160 144 181 7 160 8 176 9. 149 10 183 11 182 12 149 13 153 14 164 15 153 16 104 Click here for the Excel Data File b. Compute all possible forecasts using a five-period moving average. (Round your answers to 1 decimal place.) Absolute Period Demand 5-period SMA Errors 1 144 172 3 157 4. 160 5 144 181 7 160 8 176 9 149 10 183 11 182 12 149 13 153 14 164 LOarrow_forwardd) Using exponential smoothing with α = 0.40 and the forecast for year 1 being 3,000, the forecast for year 6 = ? miles (round your response to the nearest whole number).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.

Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,

Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education


Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning

Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.