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Q: The following table gives the number of pints of type A blood used at Damascus Hospital in the past…
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- Forecast error is calculated as: Actual - Forecast O Forecast - Actual (Forecast - Actual) ^ 2 Absolute (Actual - Forecast) (Actual - Forecast) ^ 2a. What is the mean square error for time periods 2 through 4 using the average forecasting method? b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method? c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method? Round all answers to two decimal places. Time Period 1 2 3 4 Mean absolute error (MAE) Mean squared error (MSE) Mean absolute percentage error (MAPE) Electric Bill 510 315 420 480 Average Forecast Forecast ErrorThe following table gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 - a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.10, 0.30, and 0.60, using 0.60 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) Week Of c) If the forecasted demand for the week of August 31 is 360 and a = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). August 31 September 7 September 14…
- 14. The demand for Krispee Crunchies is experiencing a decline. The company wants to monitor demand for this product closely as it nears the end of its life cycle. The following table shows the actual sales history for January to October. Generate forecasts for November to December, using the trend projection with regression method. Looking at the accuracy of its forecasts in the Trend Projection Worksheet, as well as the other statistics provided, how confident are you in these forecasts for November to December? Month January February March April May June Sales 890,000 800,000 825,000 840,000 730,000 780,000 Month July August September October November December Sales 710,000 730,000 680,000 670,000The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: August 31 September 7 September 14 Week Of September 21 September 28 October 5 Week Of a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round your response to two decimal places). pints (round your b) Using a 3-week weighted moving average, with weights of 0.10, 0.35, and 0.55, using 0.55 for the most recent week, the forecasted demand for the week of October 12 = response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) c) If the forecasted demand for the week of August 31 is 350 and x = 0.25, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). August 31 September 7 September 14…1. The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Part 2 Week Of Pints Used August 31 350 September 7 372 September 14 412 September 21 381 September 28 366 October 5 378 Part 3 a) The forecasted demand for the week of October 12 using a 3-week moving average LOADING... = _____________pints (round your response to two decimal places).
- Problem 3Investigate the role of demand forecasting and data analytics in enhancing the accuracy of the Wilson approach.Please do not give solution in image formate thanku. Bradley's Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of service calls so that he can schedule service personnel. Use the actual demand in the first period for the forecast for the first week so error measurement begins in the second week. The manager uses exponential smoothing with α = 0.5 Forecast the number of calls for week 6, which is next week. WEEK ACTUAL SERVICE CALLS 1 28 2 32 3 40 4 27 5 30
- 4. The yearly demand for units manufactured by the Orion Company Limited has been as follows:Year Units Year Units1 520 5 8602 830 6 9403 520 7 9904 750 8 850Required:i. Prepare a forecast for year 5 through 8 by using a three-year simple moving average.What is the forecast for year 9?ii. Calculate the Cumulative Frequency Error (CFE), Mean Absolute Deviation (MAD),Mean Squared Error (MSE), and Mean Absolute Percentage Error (MAPE) as at the endof year 8.8
