Explain how is the moving averages approach equivalent to exponential smoothing?
Q: Distinguish between a moving average model and an exponential smoothing model.
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Q: How is the moving average approach equivalent to exponential smoothing?
A: Forecasting is described as predicting future values based on past values, particularly in Time…
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…
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Q: Define the term Exponential smoothing?
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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
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Q: Explain how is moving average approach related to exponential smoothing?
A: A time series is a sequence of observations which may be ordered in time. Inherent withinside the…
Q: What is the basic difference between a weighted moving average and exponential smoothing?
A: A Weighted moving average is a quantitative prediction technique tool used to foresee the price or…
Q: 3. You are using a 3 period moving average to calculate your forecast. Demand for period 1 was 90…
A: Given information:Demand period 1=90unitsDemand period 2=80unitsDemand period4=90unitsHere we have…
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…
Q: Explain the effect of the value of a smoothing constant on the weight given to recent values
A: To be determined: the effect of the value of a smoothing constant on the weight given to recent…
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A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
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Q: What is the impact on the weight assigned to recent values of the smoothing constant?
A: Smooth performance constant should have a value between 0 and 1.
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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: What is the Smoothing constant?
A: It may be distinct as a variable which is used in the perceptions such as time series analysis &…
Q: Explain the Simple Linear Regression?
A: Forecasting is used to predict future changes or demand patterns. It involves different approaches…
Q: Describe how is the moving average approach equivalent to exponential smoothing?
A: Forecasting, most notably in Time Set, forecasts future values based on historical data. Two…
Q: Describe and give the advantages and disadvantages of (a) moving averages and (b) exponential…
A: (a) Moving Averages A moving average is a calculation to analyze data points by creating a series of…
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A: An exponential moving average (EMA) is an average that gives the most recent data points more weight…
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Q: Explain how does adjusted exponential smoothing different from exponential smoothing?
A: Exponential smoothing augments the observation with diminishing weights as it ages. In other words,…
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: What are the disadvantages and advantages of moving average technique and simple exponential…
A: Forecasting is an extremely important & significant part of company planning. It directs to the…
Q: What is the difference between adjusted exponential smoothing and exponential smoothing?
A: Exponential smoothing augments the observation with diminishing weights as it aged. In other word,…
Q: What is the difference between the Simple Moving Average method and the Weighted Moving Average…
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:
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Explain how is the moving averages approach equivalent to exponential smoothing?
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- Under what conditions might a firm use multiple forecasting methods?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?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?
- At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.Describe how is the moving average approach equivalent to exponential smoothing?How is the moving average approach equivalent to exponential smoothing?