What is the basic difference between a weighted moving average and exponential smoothing?
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Q: Distinguish between a moving average model and an exponential smoothing model.
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Q: snip
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Q: Explain how is the exponential smoothing approach easy to use ? How
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Q: How will an exponential smoothing model be reacted to?
A: Exponential Smoothing is a weighted averaging process that uses the previous forecast plus a…
Q: What factors enter into the choice of a value for the smoothing constant in exponential smoothing?
A: Exponential smoothing is an averaging technique which is a type of weighted moving average that…
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Q: What effect does the value of the smoothing constant have on the weight given to the recent values?
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Q: Discusshow is moving average approach related to exponential smoothing?
A: Forecasting is the act of estimating future values based on historical data, most notably in the…
Q: (a) Compute a weighted average forecast for the data listed below using a weight of 0.40 for the…
A:
Q: Which are the six major reasons to accept Exponential smoothing techniques?
A: The six major reasons to accept Exponential smoothing techniques are:
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Q: What is the fundamental difference between exponential smoothing and a weighted moving average?
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Q: How to use the simple exponential smoothing method
A: Exponential smoothing is a period series estimating technique for univariate information that can be…
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Q: a) Using a weighted moving average with three periods, determine the demand for period 13. Use 3, 2,…
A: Forecasting is the process of predicting future data based on previous or past data and information.…
Q: Short term forecast can be used for the following operation.
A: Short term forecastUp to 1 year, usually less than 3 monthsPurchasing, job planning, staff levels,…
Q: Describe the exponential smoothing forecast?
A: In exponential smoothing forecasting, all the values of past demand are taken into consideration by…
Q: How is moving average approach related to exponential smoothing?
A: Forecasting is described as the process of anticipating future values based on historical data, most…
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Q: How does the number of periods in a moving average affect the responsiveness of the forecast?
A: A moving average forecast method takes into account instead of the last actual data, a number of…
Q: The forecast for the month of November was higher than the actual demand and the forecast for the…
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Q: Describe how is moving average approach related to exponential smoothing?
A: Forecasting is described as the process of projecting future values using previous data, most…
Q: (a) Suppose the data in the table below represents total revenues (in $ millions) for one real…
A: Below is the solution:-
Q: What are the advantages of exponential smoothing over the moving average and the weighted moving…
A: An exponential moving average (EMA) is an average that gives the most recent data points more weight…
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A: For forecasting a new product with no historical data, Analogy is the most promising method.
Q: Explain how does adjusted exponential smoothing different from exponential smoothing?
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A: 1. The formula for 3 month weighted moving average IS- Ft = wt-1*Dt-12Dt-2 3Dt-3 Where, Ft =…
Q: How could an exponential smoothing model be made more responsive?
A: Forecasting is the process of making assumptions of future events based on past and present…
Q: Whta is the relationship between the moving average method and exponential smoothing?
A: Forecasting is described as the practice of forecasting future values using historical data, most…
Q: Plot these forecasts AND the original demand data on graph paper or spreadsheet. Use a key to…
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A: Forecasting is the process of estimating the future demand with the help of previous year's or…
Q: Explain the term moving averages?
A: Forecasting is the process of predicting future data based on previous or past data and information.…
Q: What are the 6 major reason to accept exponential smoothing techniques?
A: The following are six compelling reasons to embrace exponential smoothing techniques:
Q: Explain how is the moving average equivalent to exponential smoothing
A: Moving approaches of smoothing and exponential average:
Q: Does double exponential smoothing always forecast better than simple exponential smoothing when we…
A: SIMPLE EXPONENTIAL SMOOTHING: The simplest of the exponential smoothing is the simple exponential…
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Q: Given an actual demand this period of 105, a forecast value for this period of 100, and an alpha of…
A: n exponential smoothing forecast, Next forecast = Previous forecast+α(Actual-Previous forecast)
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A: Answer: The exponential smoothing method is a weighted moving average method which calculates the…
Q: orecast sales for the 11th period. For leveling, use exponential smoothing 0.20 and moving average 3…
A: THE ANSWER IS AS BELOW:
Q: Use trend-adjusted exponential smoothing to forecast the firm’s August income. Assume that the…
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What is the basic difference between a weighted moving average and exponential smoothing?
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- Under what conditions might a firm use multiple forecasting methods?The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?What is the fundamental difference between exponential smoothing and a weighted moving average?What are the advantages of exponential smoothing over the moving average and the weighted moving average?