what is the advantage of using double exponential smoothing over regression?
Q: How do exponential smoothing advantages have over moving averages as a forecasting tool?
A: The advantages of exponential smoothing as a forecasting method over operating averages are as…
Q: involve
A: The answer to this question is true.
Q: snip
A: The Delphi method is more qualitative. The Delphi method was developed by the Rank corporation in…
Q: snip
A: Answer: It is important to measure the accuracy of forecasts, for any forecasting technique and…
Q: three-period moving average. A weighted average using weights of .50 (most recent), .20 and .30.…
A: forecasting is a method which helps to predict the unknown future based on the known past…
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: A retail store records customer demand during each sales period. The data has been collected in the…
A: This question is related to the Topic -Forecasting approach and this topic falls under the…
Q: Explain in detail about Collaborative Planning, Forecasting and Replenishment (CPFR)?
A: Collaborative planning ,forecasting and replenishment - It is a process which combines several…
Q: It has been said that forecasting using exponential smoothing is like driving a car by looking in…
A: As there are multiple questions posted, as per policy will answer the first question only. If you…
Q: No single forecast methodology is appropriate under all conditions True or false?
A: Answer: What is Forecasting: Forecasting is an attempt to predict future events which will be used…
Q: The demand data for Double T Computer Services appears below. The company wants you to forecast the…
A: THE ANSWER IS AS BELOW:
Q: When should time series forecasting techniques be used?
A: The statistical data and, as a consequence, the projected features are analyzed using statistical…
Q: Although a demand forecast is usually not accurate, managers must forecast demand. In this context…
A: The answer is as below:
Q: When a business is started, or a patent idea needs funding, venture capitalists or investment…
A: A profitability forecast is a set of figures included in a business plan. The result of forecasting…
Q: A company wants to produce a weighted moving average forecast for April with the weights 0.40, 0.35,…
A: Forecasting is a method of predicting future trends, based on historical data.
Q: In order to increase the responsiveness (volatility) of following forecast models, what can you do?…
A: In order to increase the responsiveness of the forecast model using exponential smoothing, we need…
Q: Short term forecast can be used for the following operation.
A: Short term forecastUp to 1 year, usually less than 3 monthsPurchasing, job planning, staff levels,…
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: pros and cons of doing that? Give three examples of unethical conduct involving forecasting and the…
A: Unethical behavior takes place in forecasting when an analyst specifies a particular data to create…
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: Apply different forecasting techniques to find out the demand of umbrellas in the city of Ahmadabad…
A: Forecasting is the process of projecting past sales demand into the future. It involves the…
Q: Explain what are the benefits of exponential smoothing over moving average forecasting
A: The table below gives a prediction of the advantages of moving average over exponential smoothing.
Q: Do you think that hard rock cafe makes use of time horizons when forecasting explain with 3 points.
A: The three types of forecasting time horizons are, 1. Long range forecasting: A long range…
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: How does the number of periods in a moving average affect the responsiveness of the forecast?
A: A moving average forecast method takes into account instead of the last actual data, a number of…
Q: How can the Forecast technique be improved?
A: Forecasting is a tool or technique which is used to predict future demand, risk and to analyze the…
Q: What benefits does exponential smoothing have over moving averages as a forecasting tool?
A: As a forecasting function, exponential smoothing has the following benefits over running averages:…
Q: Predict the forecast for week 35 using an exponential smoothing with a smoothing constant of 0.20.
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: No singal forecast methodology is appropriate under all conditions: True or false?
A: Forecasting is a method that utilizes authentic information as contributions to make educated…
Q: Give three examples of unethical conduct involving forecasting and the ethical principle each…
A: Forecasting is the planning process that helps to predict the future demand using present or past…
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: Forecast is calculating estimates of future cycle/s based on data of past cycles, there is no…
A: Forecasting is the way toward making expectations dependent on over a significant time span…
Q: What three methods are used to determine the accuracy of any given forecasting method? How would you…
A: Forecasting is the process of making assumptions of future events based on past and present…
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: Management of Davis’s Department Store has used time-series extrapolation to forecast retail sales…
A: Note: - Since the exact question that has to be answered is not specified, we will answer only the…
Q: The manager of a popular tourist resort wants to use the manual trend projection forecasting…
A: The equation for exponential smoothing is- Ft = F t-1 + α(A t-1 – Ft-1) Ft = the exponentially…
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: The Excel file (Forecasting Assignment Data) contains quarterly motorcycle shipments for…
A: Find the Given details below: Given details: Year Quarter Period DemandAt 2000 1 1 49057…
Q: Below is data of lobster sales volume from a seafood company. We are using exponential smoothing (α…
A: Given: Year Sales volume 2012 40 2013 48 2014 44 2015 46 2016 57 2017 41 2018 52…
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: How do exponential smoothing have benefits over shifting.averages as a forecasting tool?
A: The benefits of exponential smoothing are as a prediction tool compared to moving averages.
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: 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…
Q: Given an actual demand this period of 105, a forecast value for this period of 100, and an alpha of…
A: n exponential smoothing forecast, Next forecast = Previous forecast+α(Actual-Previous forecast)
Q: State examples of industries affected by seasonality and reasons to eliminate seasonality in their…
A: To be determined: examples of industries affected by seasonality and reasons to eliminate…
Q: Using the double exponential smoothing forecast, is it possible to forecast a demand thatis bigger…
A: Forecasting is a prediction method that can use historical data and current market trends and…
Q: 1 The demand for automobiles at Crescent Auto Dealers for the past 8 weeks is as follows.…
A: Find the Given details below: Given details: Week Auto Demand Weights 1 9 0.1 2 11 0.3 3…
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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?
- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Develop a quantitative forecast model for Jacob. Which modeling technique did you choose, and why? What are the assumptions behind your model?Discuss what advantages as a forecasting tool does exponential smoothing have over moving averages?
