Sales of Cool-Man air conditioners have grown steadily during the past 5 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand for Fertilizer (1,000 bags) d) e) f) 4 6 4 5 10 8 7 9 12 14 15 a) b) The sales manager had predicted, before the business started, that year I's sales would be 410 air conditioners. Using exponential smoothing with a weight of develop forecasts for years 2 through 6. Using smoothing constants of 0.6 and 0.9, develop forecasts for the sales of Cool-Man air conditioners. What effect did the smoothing constant have on the forecast for Cool-Man air conditioners? Which smoothing constant gives the most accurate forecast? c) Use a three-year moving average forecasting model to forecast the sales of Cool-Man air conditioners. Using the trend projection method, develop a forecasting model for the sales of Cool-Man air conditioners. Would you use exponential smoothing with a smoothing constant of 0.3, a 3-year moving average, or a trend to predict the sales of Cool-Man air conditioners?

Sales of Cool-Man air conditioners have grown steadily during the past 5 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand for Fertilizer (1,000 bags) d) e) f) 4 6 4 5 10 8 7 9 12 14 15 a) b) The sales manager had predicted, before the business started, that year I's sales would be 410 air conditioners. Using exponential smoothing with a weight of develop forecasts for years 2 through 6. Using smoothing constants of 0.6 and 0.9, develop forecasts for the sales of Cool-Man air conditioners. What effect did the smoothing constant have on the forecast for Cool-Man air conditioners? Which smoothing constant gives the most accurate forecast? c) Use a three-year moving average forecasting model to forecast the sales of Cool-Man air conditioners. Using the trend projection method, develop a forecasting model for the sales of Cool-Man air conditioners. Would you use exponential smoothing with a smoothing constant of 0.3, a 3-year moving average, or a trend to predict the sales of Cool-Man air conditioners?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Garcia's Garage desires to create some colorful charts and graphs to illustrate how reliably its mechanics "get under the hood and fix the problem." The historic average for the proportion of customers that return for the same repair within the 30-day warranty period is 0.09. Each month, Garcia tracks 110 customers to see whether they return for warranty repairs. The results are plotted as a proportion to report progress toward the goal. If the control limits are to be set at three standard deviations on either side of the goal, determine the control limits for this chart. In March, 17 of the 110 customers in the sample group returned for warranty repairs. Is the repair process in control? The UCL, equals and the LCL, equals (Enter your responses rounded to three decimal places.)
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