What is the fundamental distinction between a weighted average travelling and exponential smoothing?
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: What factors enter into the choice of a value for the smoothing constant in exponential smoothing?
A: Exponential smoothing is an averaging technique which is a type of weighted moving average that…
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: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: Exponential smoothening is a time series forecasting method that uses the previous data to forecast…
Q: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: Exponential smoothing is a forecasting method that uses a weighted moving average to forecast the…
Q: Chambers Hotel use the simple exponential smoothing technique to forecast its occupancy for every…
A: Given- Actual demand for last Saturday At = 42 rooms Forecast for last Saturday Ft = 50 rooms…
Q: A store’s demand figures are given in the table. According to this, what is the linear regression…
A: Forecasting is the process of determining the estimated forecast demand using previous or historic…
Q: QWE Inn has recorded the following number of rooms sold for the first quarter of the year:…
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: Which are the six major reasons to accept Exponential smoothing techniques?
A: The six major reasons to accept Exponential smoothing techniques are:
Q: Why is reliable forecasting so important for businesses using a continuous replenishment inventory…
A: Continuous Replenishment is a method in which a supplier receives regular updates on real-time sales…
Q: How can the weighted moving average be determined?
A: Weighted moving average (WMA) is defined as the value that would be determined by multiplying the…
Q: Quain’s Discount Department Stores, a chain of four large Target-type outlets, has store locations…
A: The Center of gravity method is the method used in decision making regarding the location of the new…
Q: What role does collaborative forecasting play in a supply chain of a build to order manufacturer…
A: The bullwhip effect in businesses disturb the supply chain at many production and operational…
Q: What are the benefits of exponential smoothing over the average and weighted average movement?
A: Benefits of Exponential smoothing over travel limit and weight travel:
Q: a. Determine a linear trend line for expected freight car loadings. (Round your intermediate…
A: THE ANSWER IS AS BELOW:
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: Three months ago Two months ago Last month 400 units 350 units 320 units a. Using a simple…
A: Exponential smoothing is a forecast method based on time series with focus on uni-variate data.…
Q: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: ANSWER IS AS BELOW:
Q: Define Time Series Analysis? how is it used?
A: A time-series analysis of time series data useful to analyze the way a given asset, security, or…
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: a) Graph the seasonal data and attach the graph to this page. b) Determine the slope for each day of…
A: The regression equation is of the form y=mx+b where, y is the value of a dependent variable, m is…
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: Define Exponential Smoothing?
A: Exponential smoothing forecast is a forecasting approach that calculates the weighted averages of…
Q: he hotel has experi nced the following occupancy rates for ne past the coliseum opened. Compute an…
A: Forecasting refers to making predictions or estimations regarding future outcomes. Forecasting is…
Q: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: Alpha=0.9 At Ft Period Demand Forecast 1 41 41 2 42 0.9(41)+0.1(41)=41 3…
Q: What are the advantages of exponential smoothing over the moving average and the weighted moving…
A: An exponential moving average (EMA) is an average that gives the most recent data points more weight…
Q: How could an exponential smoothing model be made moreresponsive?
A: Exponential smoothing is a model for predicting future events based on past events or trends that is…
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: Explain linear regression?
A: Linear regression is the subsequent stage up after correlation. It is utilized when we need to…
Q: , namely when demand will exceed 16000 births
A: Regression is a tool wherever you want to fit a linear trend line and get an equation with minimum…
Q: Often, firms will work with their partners across the supply chain to develop forecasts and execute…
A: The supply chain is a network of all individuals, organizations, services, practices and…
Q: hundred bolts. Workers can be assigned to other jobs if production is less than regular. The…
A: given,
Q: Seatwork Compute for MAD, MSE and MAPE using Moving Average Model (past 3 Weeks), В. А. Exponential…
A: Forecasting is the process of estimating the future demand or sales using the previous years 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: The Handy-Dandy Department Store had forecast sales of $110,000 for the previous week. The actual…
A: At=αDt+ 1-αAt-1=0.1130,000+1-0.1110,000=13,000+99,000=112,000 Hence, the forecast for the week is…
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 the weighted moving average method?
A: Weighted moving average method of forecasting: This method gives the forecast while assigning…
Q: Sales for Pandora’s Jewellery for the past three months have been 200,350, and 287. Use a…
A: Given data; Three months actual demands are 200,350,287. Fourth month actual demand = 300
Q: Enrollment in a particular class for the last four semesters has been 122, 128, 100, and 155 (listed…
A: Below is the solution-
Q: Given the following data for demand at the XYZ Company, calculate the monthly forecast for 2003…
A: given,
Q: Give some examples of industries impacted by sea-sonality. Why would these companies want to exclude…
A: Winter, summer, rainfall, festival seasons, snowfall, public holidays, and other seasonal or…
Q: Following data on the demand for sewing machines manufactured by Taylor and Son Co. have been…
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: 5-17 Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply…
A: Forecasting is the process of determining the estimated forecast for the future using the previous…
What is the fundamental distinction between a weighted average travelling and exponential smoothing?
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- 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?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?China effectively shuts down for two weeks each year and celebrates the lunar new year. How does that resemble (or not) peak season in Western countries?