Two forecasting methods were used to forecast the next 12 quarters. The forecasts and actuals for each quarter are given in the table below. Compute the Mean Absolute Percentage Error for each method (to one decimal point). Which statement is correct? Actuals Method 1 Method 2 Q1 57 61 45 Q2 41 61 45 Q3 32 61 Q4 39 61 45 O MAPE1 is 50.7% and MAPE 2 is 21.7%, the second method is more accurate MAPE1 is 56.4% and MAPE 2 is 15.4%, the second method is more accurate O MAPE1 is 30.7% and MAPE 2 is 19.4%, the second method is more accurate MAPE1 is 50.9% and MAPE 2 is 63.8%, the first method is more accurate 15

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The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 360 389 410 381 366 378 a) The forecasted demand for the week of October 12 using a 3-week moving average = 375 pints (round your response to two decimal places) b) Using a 3-week weighted moving average, with weights of 0.15, 0.25, and 0.60, using 0.60 for the most recent week, the forecasted demand for the week of October 12 = 150.10 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.)

Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten years of tourist visits to the area.  The following data has been gathered on number of tourists who signed into the local information center. Year Number of tourists 1 700 2 248 3 633 4 458 5 1410 6 1588 7 1629 8 1301 9 1455 10 1989 What is the forecasts for Year 11 using the simple moving method? (show in calculations in excel file)

Demand for oil changes at Garcia's Garage has been as follows: Month January February March April May June July August Number of Oil Changes 38 55 56 60 58 01 70 52 a. Use simple linear regression analysis to develop a forecasting model for monthly demand. In this application, the dependent variable, Y, is monthly demand and the independent variable, X, is the month. For January, let X=1; for February, let X 2; and so on. The forecasting model is given by the equation Y=X (Enter your responses rounded to two decimal places)

Dic 2 - Time Series Analysis and F eBook Problem 6-01 (Algorithmic) Consider the following time series data. Thm Week 1 2 3 4 5 6 Value 20 13 15 11 19 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. a. Mean absolute error. If required, round your answer to one decimal place. b. Mean squared error. If required, round your answer to one decimal place. c. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. % d. What is the forecast for week 7? If required, round your answer to two decimal place.

Can you please solve all parts of the question manually. Thank you!

Briefly describe how supply chain planning and control is managed in an ERP system.

A security company had to deploy guards for emergencies multiple times in the last four evenings. The numbers of emergencies for Monday, Tuesday, Wednesday, and Thursday were 7, 4, 8, and 11, respectively. What would be the security company's forecast for the number of emergencies on Friday using an exponential smoothing forecasting approach? (Use \alpha= 0.2 and a forecast for Monday of 10 emergencies)

September 14 September 21 September 28 October 5 412 381 371 378 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 0.15, 0.35, and 0.50, using 0.50 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.)