Use exponential smoothing with = 0.2 to calculate the forecast for April from the data below. Assume the forecast for January is 7.     Period Demand Jan 10 Feb 8 Mar 7

Q: A hotel demand for Quarter one is 21,900, Quarter two 14,700, Quarter three 13,600 and Quarter four…

A: The season average is calculated by adding up the demand for all quarters and dividing by the number…

Q: Explain the term for forecast that is used for making day to day decisions about meeting demand

A: The forecasting cycle of an organization is partitioned into two sections including strategic and…

Q: Calculate the simple 3-month moving average forecast for December - March

A: Given data is

Q: The Excel file (Forecasting Assignment Data) contains quarterly motorcycle shipments for…

A: Given Data is: Year Quarter Period Demand At 2000 1 1 49057   2 2 53329   3 3 48077   4 4…

Q: Based on the given data below: compute for the Forecast on Day 8 using the Weighted Moving Average…

A: The answer is as below:

Q: Apply the Regression model forecasting technique of the data to estimate the demand in week 13.

A: Regression analysis is the estimation of associations between a dependent variable and one or more…

Q: A store has the following demand figures for the last five years: Year Demand 1 1000 2 1500 3 1200 4…

A: Formulae used:  For Exponential Smoothing Forecast: Ft =α At-1 + (1-α)Ft-1WhereFt-1= forecast for…

Q: Suppose the following actual and forecast values for June bed demands have been recorded. Year…

A:

Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…

A: Solution Moving average considers the average of the past data. The average can be of three periods…

Q: Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10…

A: Formulae used:  Exponential smoothing Forecast formula: F(t+1)= Ft+α*(At-Ft) Where,α = Smoothing…

Q: The table below comprises of demand from the last 10 months: Month Demand 1 31 2 34 3 33…

A: The answers is provide in given below. If it is useful to you, Please like it.Explanation:Step…

Q: Given the following data, use exponential smoothing (a=0.10) to develop a demand forecast. Assume…

A: Exponential smoothing is time series method which uses for forecasting univariate time series data.…

Q: Month Demand 1 45 2 48 3 43 4 48 5 49 6 54 7 47 8 50 9 46 10 47 Using the table above, calculate two…

A: (i) Exponentially smoothed forecasts were calculated using a smoothing constant of 0.4, yielding a…

Q: Answer the following:  1. Suppose that the demand in period 1 was 7 units and the demand in period 2…

A: all of the answer is in the explanationExplanation:1. given: α=0.2Ft+1= α (At) + (1-α)Ft= 0.2 (At) +…

Q: nformation, What will be - forecast of June, using month weighted moving erage with the following…

A: Given Information:

Q: Forecast sales for the 7th period. For leveling, use exponential smoothing 0.20 and moving average 3…

A: PeriodDemand167272368420570666768

Q: The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this…

A: Weighted moving average is a forecasting model that consider the weighted values from actual demand…

Q: 8 Weekly sales of copy paper at Cubicle Suppliers are provided in the table below. Compute a…

A: Let us calculate the 3-week moving average.To find the forecast of specific week, we need to:Sum up…

Q: The following table contains the demand from the last 10 months. Calculate the exponential smoothing…

A: Given:  An initial trend forecast (T1) = 1.00 An initial exponentially smoothed forecast (F1) = 30.…

Q: Period 1 2 3 4 5 6 3. Using the table below, forecast using exponential smoothing. Assume the Alpha…

A:

Q: Given the following history, use a three-quarter moving average to forecast the demandfor the third…

A: Given information:

Q: a03 a05 Period Forecast Forecast 3 10 11 12 2.

A: Here, I will conduct a simple exponential smoothing forecast for the given data set, I have…

Q: ind Naïve Forecast, Moving Average and Weighted Average based on the data given at the below table.…

A: In the question, we have monthly data for the year 2018, I would apply forecasting techniques to get…

Q: Consider the following actual and forecast demand levels for Big Mac hamburgers at a local…

A: The Formula for exponential smoothing forecast is:Ft+1 =  Yt + ( 1 - ) FtHere, Ft+1 is the Forecast…

Q: Sales for a product for the past three months have been 200,350, and 287. Use a three-month moving…

A: A three-month moving average method averages the actual demand for the previous three months to…

Q: The actual number of patients at Moncton Medical Clinic for the first six weeks of this year…

A:

Q: The number of cans of soft drinks sold in a machine each week is recorded below. Develop forecasts…

A: Given data:  Period 1 2 3 4 5 6 7 8 9 10 Actual value 155 145 155 162 180 165 172 149 170 172

Q: XYZ Chips Inc. (XCI) produces Centrino-type chips. The market has been inclining with ups and downs…

A: Forecasting Technique we are using here is Moving average forecasting Technique: A moving average is…

Q: In January, a car dealer predicted February demand for 150Honda Accord. Actual February demand was…

A: a. The forecasted demand for March is 152.6. b. The forecasted demand for March is 153.9.

Q: Plot the data for the last three weeks. Make a forecast for the number of products to be sold in…

A: Forecasting is the process of predicting future data based on previous or past data and information.…

Q: Sales of tablet computers at Marika Gonzalez's electronics store in Washington, D.C., over the past…

A: Find the given details below:

Q: Period 1 2 3 4 5 6 1. Compute the four period moving average forecast for period 6 and 7. Assume the…

A:

Q: (a) Compute a weighted average forecast for the data listed below using a weight of 0.40 for the…

A: Weighted moving average forecast = (W1*S1+W2*S2+W3*S3...........WN*SN)/(W1+W2+W3.......WN) Where: W=…

Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…

A: Using past data as inputs, forecasting is a process that produces accurate predictions of the future…

Q: Forecasting  Historical records show the past ten Hood Lacrosse games having the following…

A: Forecasting is the process of prediction in which sales demand is estimated using historic…

Q: The sale of cycles in a shop in three consecutive months are given as 70, 68 and 82 units…

A: Short-term forecasts are typically made using exponential smoothing, but longer-term forecasts made…

Q: The figures below show the sales of hairdryers in one shop over the last 3 months. Month 1: 140…

A: Exponential smoothing is a forecasting model which helps to identify the forecasting demand using…

Q: The demand for a product of a company in each of the last twelve months is shown in the table below;…

A: Formula:

Q: pply the moving average with base m=4 forecasting technique of the data to estimate the demand in…

A: With a moving average of 4, the demand of the product is basically an average of the demand of last…

Q: The demand data for Double T Computer Services appears below.  The company wants you to forecast the…

A: With given period and demand, Least squares line, y = a + bx b = N*∑XY - (∑X)*(∑Y)N*(∑X2) - (∑X)2 a…

Q: Given an actual demand this period of 90, a forecast for this period of 58, and an alpha of 0.2,…

A: Given, This period demand = 90 This period forecast = 58 Alpha value = 0.2

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.