Given forecast errors of 5, 15, and −5, what is the mean absolute deviation? a.6.67 b.5 c.8.33 d.15 e.25
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- Given the following historical data, what is the simple three-period moving average forecast for period 6? Period 1 2 3 4 5 67.67 68.2 67.3 68.4 Value 73 66 64 73 66b) What is this year's forecast using a three-year weighted moving average with weights of 0.5, 0.3, and 0.2?14.5. For the data in Exercise 14.4, use an a of 0.1 to make a forecast for July F Ft-1 + 0.1(At-1-Ft-1) Months January 15 February 18 March 22 23 27 26 April May June Demand Smoothing unit (At) (St) July 15 15.3 15.97 16.67 17.7 18.53 Forecast for July= 18.53 Forecast (Ft) 15 15.3 15.97 16.67 17.7 18.53
- A forecasting method has produced the following over the past five months. What is the mean absolute percentage error (MAPE)? Actual 11 OA. 0.00% B. 31.87% 5178 11 13 Forecast 13 10 30668 $7Make a 15-year simple linear regression forecast. Example: Railroad Products Co. RPC Sales Car Loadings Year ($millions) (millions) 1 9.5 120 2 11.0 135 3 12.0 130 4 12.5 150 5 14.0 170 6 16.0 190 7 18.0 220Sales of hair dryers at the Walgreens stores in Youngstown, Ohio, over the past 4 months have been 100, 110, 120, and 130 units (with 130 being the most recent sales). Develop a moving-average forecast for next month, using these three techniques:a) 3-month moving average.b) 4-month moving average.c) Weighted 4-month moving average with the most recent month weighted 4, the preceding month 3, then 2, and the oldest month weighted 1.d) If next month’s sales turn out to be 140 units, forecast the following month’s sales (months) using a 4-month moving average.
- Sales of hair dryers at the NOVO Store in City of San Fernando over the past 4 months have been 100, 110, 120 and 130 units (with 130 being the most recent sales). Develop as moving-average forecast for next month, using these three techniques: a. 3-month moving average b. 4-month moving average. c. Weighted 4-month moving average with the most recent month weighted 4, the preceding month 3, then 2 and the oldest month 1Given forecast errors of 4, 8, and −3, what is the mean absolute deviation (MAD) and mean square error (MSE)? (Round your answers to 2 decimal places.)A time-series trend equation is 25.3 + 21x.What is your forecast for period 7? A. 32.3 B. 172.3 C. 25.3 D. 40.0 E. 324.1
- What is the mean absolute deviation (MAD)? Why is it useful in forecasting?24,000-seat arena that is home to the city’s professional basketball and ice hockey teams and that hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel has experienced the following occupancy rates for the past 9 years, since the coliseum opened. Compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals) 1 83 2 78 3 75 4 81 5 86 6 85 7 89 8 90 9 86The following specific seasonal factors were estimated for the month of October: 65.4 76.8 66.9 72.6 70.0 If the adjustment is 0.98 and the modified mean is used, and if the expected trend for October is $800, what is the seasonally adjusted forecast? a. $561.00 b. $551.47 c. $570.00 d. $1,168.8 e. None of the options are correct.