Auto sales at Carmen's Chevrolet are shown below. Using a 3-week weighted moving average (w₁-0.5, w2-0.4, w3-0.1), what is the forecasted sales for month 7? note: write the rounded-off number (eg. "75" and NOT "75.17")
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- Question 18 A tire company needs a forecast for studded tires in the next forecast period. The company typically uses an exponential smoothing forecast using a smoothing constant of alpha = 0.20. The demand for the most recent period was 100 and the forecast for the same period was 110. Based on this information, what is the tire company's forecast for the next period? Group of answer choices a. 100 tires b. 102 tires c. 108 tires d. 110 tires e. Impossible to determineQUESTION 1The table below shows the sales figures for a brand of shoe over the last 12 months.Months SalesJanuary 69February 75March 86April 92May 95June 100July 108August 115September 125October 131November 140December 150a. Using the following, forecast the sales for the months up to January the following year:-i. A simple three month moving average. ii. A three period weighted moving average using weights of 1, 2 and 3. Assign thehighest weight to the most recent data. iii. Exponential Smoothing when α= .6 and the forecast for March is 350.iv. Determine which of the three forecasting technique is the most accurate usingMAD. b. The following table shows the number of televisions sold over the last ten years at alocal electronic store.YEAR TV SALES1 1502 3003 4804 6005 6306 6407 7008 8259 90010 980i. Using trend projection, develop a formula to predict sales for years 11 and 12. Youhave to show all working. You will need to develop a table to calculate the slope andthe intercept.…QUESTION 5 Choose the answer with the best match. Elements of a Good Forecast, Meaningful: The benefits should outweigh the costs It should work consistently The degree of accuracy of the forecast should be stated The forecasting horizon must cover the time necessary to implement possible changes so that its results can be used The units measured should be useful to those using the forecast QUESTION 6 There are two main approaches to forecasting. Choose the best two: Quantitative, Consumer Judgmental, Quantitative Sales force, Judgmental Historical, Consumer Expert, Executive QUESTION 7 Describe the following: Andon Maintaining equipment in good condition Maintaining a workplace that is clean System for moving work to the next station as it is completed System of lights used at each workstation to…
- Question 1 Forecasting calculation X Month Sales (y)(000 units) 1 Feb. 19 2 Mar. 18 3 Apr. 15 4 May 20 5 Jun. 18 6 Jul. 22 7 Aug. 20 8 Sep a. Using a 5-month moving average, calculate September sales b. Calculate September sales Using a 3-month weighted moving average (weights are 0.60, 0.30. 0.10). c. Calculatate Exponential Smoothing (assume February sale is 19) sales in September (alpha 0.2, that means 1-0.2 = 0.8) d. Using regression analysis, what is Y (September sales) if X is 8? (use data> data analysis button> regression)QUESTION 2:The manager of YTL Computers wants to develop next year’s quarterly forecasts of salesrevenue for its brand laptops. The sales are seasonal and the company believes that thefollowing most recent eight quarters of sales should be representative of next year’ssales: Year Quarter Sales (millions of dollars) 1 1 9.2 1 2 5.4 1 3 4.3 1 4 14.1 2 1 10.3 2 2 6.4 2 3 5.4 2 4 16.0 Determine the forecast of next year’s quarterly sales revenue for this line of laptops.Show all your workings.Question 2 i. Differentiate between independent and dependent variable in forecasting. ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. Table 2 Week Sales 1 25 2 30 3 27 4 31 5 27 6 29 7 30 8 a. Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest weight). (Round all forecasts to the nearest whole unit.) b. Calculate the MAD for this forecast. c. What does the MAD indicate?
- QUESTION 1 The table below shows the sales figures for a brand of shoe over the last 12 months. Months SalesJanuary 69February 75March 86April 92May 95June 100July 108August 115September 125October 131November 140December 150 a. Using the following, forecast the sales for the months up to January the following year:-i. A simple three month moving average. ii. A three period weighted moving average using weights of 1, 2 and 3. Assign thehighest weight to the most recent data. iii. Exponential Smoothing when α= .6 and the forecast for March is 350.iv. Determine which of the three forecasting technique is the most accurate using MADQUESTION 1The table below shows the sales figures for a brand of shoe over the last 12 months. Months SalesJanuary 69February 75March 86April 92May 95June 100July 108August 115September 125October 131November 140December 150 a. Using the following, forecast the sales for the months up to January the following year:- ii. A three period weighted moving average using weights of 1, 2 and 3. Assign thehighest weight to the most recent data.Question 03 Suppose you sell stylish leather bags targeting young office going people who can use your bags to carry laptops and necessary stuff. You have already launched leather bags in February of this year and now based on the demand results of last 7 months, you want to predict the demand for your bags for the month of September. Hence, you want to select the right forecasting techniques and you are considering 2 period Moving Average, Naive technique and Exponential Smoothing (use any value between .10 - .15 as the value of alpha). Now figure out the better forecasting technique among 2 period Moving Average, Naive technique and Exponential Smoothing by doing the error calculation with the help of MAD, MSE, MAPE. Period Demand 2period Moving Average (Demand forecast) Naive technique (Demand forecast) Exponential Smoothing (Demand forecast) February 70 75 ** ** March 74 78 ** ** April 80 ** ** ** May 88 ** ** ** June…
- QUESTION 1The table below shows the sales figures for a brand of shoe over the last 12 months.Months SalesJanuary 69February 75March 86April 92May 95June 100July 108August 115September 125October 131November 140December 150 a. Using the following, forecast the sales for the months up to January the following year:-i. A simple three month moving averageQUESTION 1The table below shows the sales figures for a brand of shoe over the last 12 months.Months SalesJanuary 69February 75March 86April 92May 95June 100July 108August 115September 125October 131November 140December 150 a. Using the following, forecast the sales for the months up to January the following year:- iii. Exponential Smoothing when α= .6 and the forecast for March is 350.Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniques
