Forecast sales for the 11th period. For leveling, use exponential smoothing 0.20 and moving average 3 for averaging; and linear and exponential functions for trend data. Assume an initial exponential forecast of 60 units in period 2 if you decide to use it (i.e., no forecast for period 1). Period 1 2 3 4 5 6 7 8 9 10 Sales 748 690 731 869 845 956 1200 1062 1090 1200

Q: Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using…

A: THE ANSWER IS AS BELOW:

Q: Explain the term “wrong” as it pertains to a good forecast?

A: In forecasting techniques, the word "wrong" refers to a difference between the real and forecasted…

Q: Explain why forecasting devices such as moving averages, weighted moving averages, and exponential…

A: The average is going The prediction is increased and n is flat, but less susceptible. It provides an…

Q: a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to…

A: Forecasting is the process of predicting the future demand according to past data and demand.

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

A: Error = Actual - Forecast Absolute Error = Positive Difference of Actual Demand and Forecast…

Q: Below is a table containing data on product demand for the most recent five months along with the…

A: Forecast by using 3 period simple moving average method-

Q: The actual number of patients at Omaha Emergency Medical Clinic for the first sIX weeks of this year…

A: This problem can be solved using the weighted moving average method of forecasting.

Q: Explain what benefits as a forecasting tool does exponential smoothing have over moving averages?

A: In today's environment, when events change frequently, the exponential smoothing method is superior.…

Q: Give three example of unethical conduct involving forecasting and the ethical principle each…

A: Deceptive conduct is an activity that falls outside of what is considered ethically right or…

Q: Use the data below to solve for the following: 2. Naïve method 3. Unweighted 3 month moving average…

A: Note: - As it is specified to answer 2, 3, and 4, we will answer only those.  Given data is

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

A: Exponential Smoothing is a hugely familiar system to provide a smoothed time series. In the single…

Q: Given the following demand data,a. Compute a weighted average forecast using a weight of .40 for the…

A: 4-period weighted average forecast: Formula: Answer:

Q: Your manager is trying to determine what forecasting method to use. Based on the following…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Daily high temperatures in St. Louis for the lastweek were as follows: 93, 94, 93, 95, 96, 88, 90…

A: Since you have asked multiple questions, we will solve first question for you (a, b and c). If you…

Q: Explain what is seasonality and how forecast is done using data that has seasonality

A: In time series analysis, seasonalities are regarded as repeated up / down cyclic patterns in serial…

Q: Time left 0:30:19 The sales of XYZ company for the previous three periods are 45,42, and 43…

A: The following is the data provided: Period Data January 45 February 42 March 43 The…

Q: for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest…

A: THE ANSWER IS AS BELOW:

Q: Forecasted Year Sales Sales 2005 455 415.00 2006 510 427.00 2007 516 451.90 2008 570 471.13 2009 585…

A: Given that: Smoothing constant = 0.6 Starting Forecast = 415 and Year Sales 2005 455 2006 510…

Q: Complete the "Forecast for tomorrow" column in the table above. Use an exponential smoothing…

A:

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: The following table shows the actual demand observed over the last 11 years: Year 1 2 4 7 8 10 11…

A: Given -  Table for demand seen in past years- Year Actual Demand 1 6 2 9 3 4 4 9 5 13…

Q: Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for…

A:

Q: What advantages as a forecasting tool does exponential smoothing have over moving averages?

A: A moving average forecast method takes into account instead of the last actual data, a number of…

Q: (Round your answers to 2 decimal places.) Complete the table above, filling in the "Forecast for…

A: Forecast refers to the estimation of the future happening according to the previous and current data…

Q: Daily high temperatures in St. Louis for the last week were as follows: 93, 94, 93, 95, 96, 88, 90…

A:

Q: Explain what ex-post and ex-ante forecasts are, and how one can evaluate the accuracy of forecast of…

A: Ex Post Forecast, Ex Ante Forecast   Ex post is forecasting using data that has been collected after…

Q: When a new business is started, or a patent idea needs funding, venture capitalists or investment…

A: Business Forecasting is important for both startups as well as existing businesses. The new age…

Q: orecast demand for each week, including week 10, using exponential smoothing with a 5 .5 (initial…

A: Exponential smoothing is forecasting method which identifying the farecasting value based on the…

Q: Storrs Cycles has just started selling the new Cyclone mountain bike, with monthly sales as shown in…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: The company's sales history (in thousands of units) is shown in the table below. Use exponential…

A: Concept and formulas used: FIT = Forcast Including Trend FIT = Ft + Tt Ft = FITt-1 + a…

Q: Below you are given the first five values of a quarterly time series of sales. Year Time Series…

A: Find the Given details below: Given details: Year Quarter Time Series Value Y1 1 1 36 2 24…

Q: (a) Compute the forecast sale using a = 0.20 and a = 0.35 respectively, (b) solve for MAD, SSE, MSE,…

A: Forecasting is the process of estimating the future demand using previous or historic data or…

Q: A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.6" and…

A: Given, TAF for first month TAF1 = 434 units Actual demand for first period A1= 488 units Trend T1 =…

Q: Suppose you are working for a baking company in Bangladesh. What are the relevant factors you will…

A: Forecasting is the activity of making estimations of future activities based on past and present…

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

A: The solution for the above is mentioned in the below excel spreadsheet as follows.

Q: Sales of tablet computers at Ted Glickman’s electron-ics store in Washington, D.C., over the past 10…

A: Formula:

Q: Explain the difference between qualitative and quantitative approaches to forecasting. Describe…

A: Forecasting is the method of forming foresight dependent on historical and existing or present…

Q: A​ time-series trend equation is 25.3​ + 21x. What is your forecast for period​ 7?     A. 32.3   B.…

A: Forecasting is the process in which future demand is determined by estimation using previous data or…

Q: Define and explain the forecasting technique which places more emphasis on recent values and explain…

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

Q: From the choice of simple moving average, weighted moving average, exponential smoothing, and linear…

A: Forecasting is the process of making assumptions of future events based on past and present…

Q: 2. Using the same table above, compute the weighted moving average forecast for demand for four…

A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…

Q: Given the actual demand of 300, the previous forecast of 300, and an alpha of 0.048 , which one of…

A: The actual demand =300 The previous forecast = 300  Alpha = 0.048

Q: Interpret the MAD of the most accurate among the forecasting models below. A. Naïve approach; B.…

A: Find the Given details below: Given Details: Month Demand (100 Liters) 1 39 2 47 3 39 4…

Q: October 5 a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a…

A:

Q: Jim's department at a local department store has tracked the sales of a product over the last five…

A: This question is related to the topic - Forecasting approach and this topic fall under The…

Q: What is the expected sales for the 7th week based on 3 period moving average. What is the forecast…

A: Forecasting is the process of predicting the future demand using previous or historic information.

Q: Discuss what is seasonality and how forecast is done using data that has seasonality?

A: Time series analysis describes seasonal patterns as recurrent upward and downward cyclic patterns in…

Q: Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for…

A:

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.