Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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- I just need the last one please (:arrow_forwardMonth Demand Forecast Error Abs Error alpha 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Bias MAD (mean error) Problem 6: Maverick Jeans' demand manager decided to evaluate exponential smoothing. To maintain com- parability, she used the data from problem 6, copied below. 1 Month 2 3 Demand 20 18 21 25 4 5 24 6 7 8 9 10 11 12 27 22 30 23 20 29 22 Develop forecasts for months 5-12. Calculate the Bias and MAD. Use a starting forecast of 20 for month 4 and an alpha value of 0.2. (Note: Adjust all cell values to two decimal points.)arrow_forwardSunrise is planning its purchases of ingredients for bread production. If bread demand had been forecast for last week at 22k loaves & only 21k loaves were actually demanded, what would Sunrise’s forecast be for this week using exponential smoothing with α = 0.10?arrow_forward
- 1. Which of the following is indicative of the season of heaviest demand when seasonality is measured on a quarterly basis? a. Seasonal index = .75 b. Seasonal index = 1.0 c. Seasonal index = 1.25 d. Seasonal index = 3.1 Answer: 2. The forecast calculated at the end of period t for period t+k is always the same for any value of k if the time series has systematic variability. A) True B) Falsearrow_forward- Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10 weeks are shown in the table below: 6 10 Week 1 Demand 20 2 3 23 27 4 5 37 26 7 8 9 30 35 22 24 29 a) The forecast for weeks 2 through 10 using exponential smoothing with a = 0.55 and a week 1 initial forecast of 20.0 are (round your responses to two decimal places): Week 1 Demand 20 Forecast 20.0 2 3 23 27 4 37 5 26 6 30 7 35 8 22 9 24 10 29arrow_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_forward
- The monthly demand for units manufactured by the Acme Rocket Company has been as follows:Month Units Month UnitsMay 100 September 105June 80 October 110July 110 November 125August 115 December 120a. Use the exponential smoothing method to forecast the number of units for June to January. The initial forecast for May was 105 units; α = 0.2.b. Calculate the absolute percentage error for each month from June through December and the MAD and MAPE of forecast error as of the end of December.c. Calculate the tracking signal as of the end of December. What can you say about the performance of your forecasting method?arrow_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_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_forward
- 376.98 says its wrongarrow_forwardThe K&R Camera shop sells all the latest cameras and accessories. To meet customer demand, the manager must forecast demand for items she sells. Lately the XR-42S zoom lens has been very popular. Recent monthly demand for this item has been as shown: Number of Lenses Month Sold 1 12 17 2 3 4 15 20 18 23 6.arrow_forward14 Community General Hospital finds itself treating many bicycle accident victims. Data from the last seven 24-hour periods is shown below: Day Bicycle Victims 1 8 2 14 3 8 4 14 5 18 6 15 With an alpha value of 0.31 and a starting forecast in day 3 equal to the 21 , what is the exponentially smoothed forecast for day 4? (Round to two decimal places) 15 What is the exponentially smoothed forecast for day 5? (Round to two decimal places)arrow_forward
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