Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Related questions
Question
The sales of XYZ company for the previous three perlods are 45, 42, and 43 respectively Entimate the sales of the fourth perlod by exponential smoothing with 0S.Ube nalve as a starting/initial forecast (Round to 2 declmats)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by stepSolved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Month 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_forward3) exponential smoothing with a smoothing constant equal to .20, assuming a March forecast of 19(00).arrow_forward
- I could use a hand with thisarrow_forward4. An electrical contractor's records during the last five weeks indicate the number of job requests: 1 3 20 18 Week Requests 2 22 4 21 5 22 Predict the number of requests for week 6 using each of these methods: a. Naive b. A four-period moving average c. Exponential smoothing with a = 30; use 20 for week 2 forecastarrow_forward14.5. 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 18.53arrow_forward
- Month Demand Forecast Error Abs Error 1 43 2 52 3 44 4 57 5 43 6 48 7 Sum Mean Bias MAD When using a 4 period moving average forecast (MAF): 1. What is the forecast for month 6? 2. What is the forecast error for month 6?arrow_forwardAn electrical contractor's records during the last five weeks indicate the number of job requests: Week: Requests: 1 2 3 5 25 27 25 26 27 Click here for the Excel Data File Predict the number of requests for week 6 using each of these methods: a. Naive. Number of requests b. A four-perlod moving average. (Round your answer to 2 decimal places.) Number of requestsarrow_forwardThe 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_forward
- Help 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_forward8.6 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_forwardA firm finds that it sold 150 units in January, 160 in February, and 170 in March. What is the forecast of April in case the firm uses 3-month moving average? a. 150 b. 155 c. 160 d. 170arrow_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 Education
Operations 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 Learning
Production 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.