How could an exponential smoothing model be made moreresponsive?
Q: Explain how is the exponential smoothing approach easy to use ? How
A: The forecast is a statistical technique that uses historical data to determine, anticipate, and…
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 effect does the value of the smoothing constant have on the weight given to the recent values?
A: Exponential smoothing is a forecasting tool used to foresee univariate data. It forecasts is similar…
Q: Jane is trying to forecast demand for her store, using Exponential Smoothing, using a = 0.75. Fill…
A: Forecast = Actual demand of previous period*alpha+(1-alpha)*forecast of previous period Error =…
Q: In exponential smoothing, if ɑ = 0.3, then the damping factor for use in forecasting should be: *…
A: Exponential smoothing is a forecasting method which identify the forecasting value using the…
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: Which are the six major reasons to accept Exponential smoothing techniques?
A: The six major reasons to accept Exponential smoothing techniques are:
Q: Apply the appropriate forecasting tools and techniques in predicting product demand using OM…
A: Demand forecasting is the assessment of likely future demand for an item or administration. The term…
Q: Define the term Exponential smoothing?
A: Let’s understand what is meant by Exponential Smoothing. Exponential Smoothing: It can be defined as…
Q: Use exponential smoothing with smoothing parameter a = 0.3 to co 13). Use exponential smoothing with…
A: Exponential smoothing is a forecasting method which considering the actual demand and forecasting…
Q: What is the fundamental difference between exponential smoothing and a weighted moving average?
A: Forecasting is a method of predicting future events by evaluating data sets quantitatively and…
Q: How to use the simple exponential smoothing method
A: Exponential smoothing is a period series estimating technique for univariate information that can be…
Q: Describe the exponential smoothing forecast?
A: In exponential smoothing forecasting, all the values of past demand are taken into consideration by…
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: 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…
Q: In Collaborative Planning, Forecasting and Replenishment (CPFR) the word collaboration encompasses?
A: Forecasting can be defined as the process of estimating future events or data based on the previous…
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: exponential smoothing with a smoothing constant equal to .20, assuming a March forecast of 19(00).
A: To find Exponential smoothing with a smoothing constant equal to .20, assuming a March forecast of…
Q: Lori Cook has developed the following forecasting model: y = 45.0 + 4.50x, where y = demand for Kool…
A: Given equation for the forecasting model, y=45+4.50×x y= Demand for Kol air conditioners x=the…
Q: Lori Cook has developed the following forecasting model: y = 40.0 + 4.20x, where y = demand for Kool…
A: Y = 40 + 4.20x Where, Y = Demand for Air Conditioners X = Outside temperature
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: Compare the exponential smoothing model when a=0 and when a=1
A: Exponential SmoothingThe formula for exponential smoothing model is:F(t) = F(t-1) + α (A(t-1) –…
Q: You have a data set that includes time period and past sales data, and you want to use a time series…
A: Ans// D) Weighted moving average Time series forecasting makes the prediction about the future by…
Q: a) Using simple linear regression, the forecast for the number of disk drives to be made next year =…
A: In this question, for each year, I have disk drives data, using the Ms Excel software, I have…
Q: What implications do forecast errors have for the search for ultrasophisticated statistical…
A: Forecasting is the process of making predictions for the future based on the past and present data.…
Q: When a product is new and there is no historical data, the most promising method to forecast this…
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?
A: Exponential smoothing augments the observation with diminishing weights as it ages. In other words,…
Q: Explain how is the moving avarages l approach equivalent to exponential smoothing ?
A: What is Forecasting? It is a technique using historical data to arrive at future points which can be…
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: Explain how is the moving averages approach equivalent to exponential smoothing?
A: This question is related to the topic Forecasting approaches and this topic falls under the…
Q: Explain linear regression?
A: Linear regression is the subsequent stage up after correlation. It is utilized when we need to…
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: Explain how do exponential smoothing have benefits over shifting averages as forecasting tool
A: The merits of autoregressive moving as a prediction approach are considerable in comparison to…
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: Explain the term moving averages?
A: Forecasting is the process of predicting future data based on previous or past data and information.…
Q: A check-processing center uses exponential smoothing to forecast the number of incoming checks each…
A: The forecasting technique is used to make predictions based on past and present data. Use in the…
Q: The topic of technology forecasting adopts a broad definition that incorporates competitive…
A: Technology forecasting is the method of making higher plans and selections using outcomes of…
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: Which one of the following models would be best for new product forecasting? Multiple Choice…
A: Holt's two-parameter model, also called as linear exponential smoothing, is a popular smoothing…
Q: regression analysis to forecast the point at which Swanson needs to “build out” the top two floors…
A: Regression is a tool wherever you want to fit a linear trend line and get an equation with minimum…
How could an exponential smoothing model be made moreresponsive?
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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?