Question 1 One use of short-range forecasts is to determine planning for new products. (A) True (B False Question 2 Individual product forecasts are more accurate than Product family and aggregated forecasts. A) True B) False
Q: Calculate the Tracking Signal to two decimal places.
A: SOLUTION: Tracking Signal = 2.35 Hence, the solution of this answer is as below:
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A: ANSWER IS GIVEN BELOW:
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A: Below is the solution:-
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A: Given-
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A: Formula:
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- Under what conditions might a firm use multiple forecasting methods?Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniquesQUESTION 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 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 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 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.
- q. 15 Calculate the accuracy of your MA forecasts using MAD. What does the result tell you? Group of answer choices a. There is a bias towards over forecasting b. There is a bias towards under forecasting c. On average forecasts miss by 15% d. On average forecasts miss by 2 e. MAD does not provide any useful information without a CFE calculation to compare with20- Forecasting is very important in predicting the future sales of a company. Can you identify the wrong statement about forecasting from the options below? a. Short range forecasts are less accurate than long range forecasts b. The underlying casual system will remain same in the future c. Forecast for group of items is accurate than individual item d. Forecasts are rarely perfectQuestion 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 number of patients coming to the Healthy Start Maternity clinic has been increasing steadilyover the past eight months. You are provided with some historical data as follows: Month Clinic attendance (in thousands)1 3.42 3.93 4.54 5.05 5.86 5.97 6.58 6.7 a. Identify and give a brief explanation of the:-i. Dependent variableii. Independent variable b. Use simple linear regression to forecast annual demand for months 9 and 10 by using thetabular method to:-i. Derive the values for the intercept and slope. ii. Derive the linear regression equation. iii. Plot the linear regression line. iv. Develop a forecast of the clinic attendance for months 9 and 10.Question 1. The table below shows the sales figure for a brand of shoe over the last 12 months. Months Sales January 69 February 75 March 86 April 92 May 95 June 100 July 108 August 115 September 125 October 131 November 140 December 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 the highest weight to the most recent data iii. Exponential smothing when α = .6 and the forecast for march is 350 vi. Detemine which of the three forecasting technique is the most accurate using MAD N.B. Only answer IVQuestion 1. The table below shows the sales figure for a brand of shoe over the last 12 months. Months Sales January 69 February 75 March 86 April 92 May 95 June 100 July 108 August 115 September 125 October 131 November 140 December 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 the highest weight to the most recent data iii. Exponential smothing when α = .6 and the forecast for march is 350
