A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were Day: Number 1 3 8 sold: 33 36 37 44 41 45 46 44 48 Day: Number 10 11 12 13 14 15 sold: 49 44 45 45 53 52 a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 44 for Day 8, an initial trend estimate of 2, and a = B = 3, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.) MSE

A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were Day: Number 1 3 8 sold: 33 36 37 44 41 45 46 44 48 Day: Number 10 11 12 13 14 15 sold: 49 44 45 45 53 52 a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 44 for Day 8, an initial trend estimate of 2, and a = B = 3, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.) MSE

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

Problem 5SE: What does the y -intercept on the graph of a logistic equation correspond to for a population...

See similar textbooks

Similar questions

What does the y -intercept on the graph of a logistic equation correspond to for a population modeled by that equation?
A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were Day: 1 2 3 4 5 6 7 8 9 Number sold: 34 37 40 39 45 43 47 49 48 Day: 10 11 12 13 14 15 Number sold: 52 53 47 53 47 49 a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 42 for Day 8, an initial trend estimate of 2, and α = β = .3, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.) MSE
A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were: DAY 1 - 37 2 - 40 3 - 45 4 - 44 5 - 48 6 - 49 7 - 47 8 - 46 9 - 50 10 - 54 11 - 52 12 - 53 13 - 57 14 - 49 15 - 53 a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 42 for Day 8, an initial trend estimate of 2, and α = β = .3, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.) This question was previously answered with 16.787. The McGraw-Hill website where you enter this answer says it's not correct. Can you please assist me??
Find the pvalue for the intercept and state the correct representation of the related logistic regression model?
The manager of a travel agency has been using a seasonally adjusted forecast to predict demand for packaged tours. The actual and predicted values are as follows:Period Demand Predicted 1 132 113 2 192 200 3 152 150 4 87 102 5 82 80 6 127 135 7 122 128 8 133 124 9 98 109 10 153 150 11 108 94 12 93 80 13 128 140 14 138 128 a. Compute MAD for the fifth period, then update it period by period using exponential smoothing with α = 0.05.b. Compute a tracking signal…
The Bayside Fountain Hotel is adjacent to County Coliseum, a 24,000-seat arena that is home tothe city’s professional basketball and ice hockey teams and that hosts a variety of concerts, tradeshows, and conventions throughout the year. The hotel has experienced the following occupancyrates for the past 9 years, since the coliseum opened:Year Occupancy Rate (%)1 832 783 754 815 866 857 898 909 86 Compute an exponential smoothing forecast with a = .20, an adjusted exponential smoothingforecast with a = .20 and B=30 and a linear trend line forecast. Compare the three forecasts,using MAD and average error ( ), and indicate which seems to be most accurate.
The sales records of a major auto manufacturer over the past years from 2005 to 2019 are shown below. Number of Cars Sold Year (In thousands of Units) 2005 195 2006 200 2007 250 2008 270 2009 320 2010 380 2011 440 2012 460 2013 500 2014 500 2015 550 2016 570 2017 600 2018 650 2019 700 Develop moving average with k=4 and compute its MSE Develop exponential model with α = 0.4 and compute its MSE Develop a linear trend model and compute its MSE Based on the MSE computed fore ach model , which model fits well to the data Based on the answer of question (4) forecast the number of cars sold for year 2020.
Compute the forecasted values for Yt for July and August in 2020 by using the modelsstated in (c) and (d)
The following scatterplot shows a company’s monthly sales, in thousands of dollars, versus monthly advertising dollars spent, in thousands of dollars. Which of the following points is most likely a high-leverage point with respect to a regression of monthly sales versus advertising dollars?
a. In the Petroco Service Station problem, compute an exponentially smoothed forecast with an α value of .30. According to the result from Excel and/or POM-QM, the forecast for the month of August b.In the Petroco Service Station problem, for the exponentially smoothed forecast with an α value of .30, compute the mean absolute deviation (MAD) via Excel and/or POM-QM c. In the Petroco Service Station problem, compute an exponentially smoothed forecast with an α value of .50. According to the result from Excel and/or POM-QM, the forecast for the month of January would be d.In the Petroco Service Station problem, compute an exponentially smoothed forecast with an α value of .50. According to the result from Excel and/or POM-QM, the forecast for the month of August
Following table presents the quarterly market share of Tasty Food Company; Quarter Firm’s Actual Market Share 1 20 2 22 3 23 4 24 5 18 6 23 7 19 8 17 9 22 10 23 11 18 12 23 13 ? Forecast the company’s market share for the 13th quarter by exponential smoothing with w=0.3. Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w=0.3. If the RMSE for the exponential forecast using w=0.5 is 2.91 then compare which forecasts is better and why?
Consider the following data:Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 17,527 17,677 16,455 18,642 20,163 17,350 19,127 18,622 20,422 Step 3 of 4 : Determine the exponential smoothing forecast for the next time period using a smoothing constant of 0.35. If necessary, round your answer to one decimal place. I have been stuck on this for 2 days now. I do not understand exponential smoothing forecast at all and the textbook is not helpful. I have tried looking at the textbook, using the step-by-step learning tools, and youtube videos and it still isn't helping.