14. Given the following data for demand at the XYZ Company, calculate the monthly forecastusing a 4-month moving average. Calculate the Forecast, Error, MAD (mean absolutepercentage error), Bias and the TS (tracking signal) .PeriodDemand ForecastErrorMADBiasTS2-Oct 20208502-Nov 20209502-Dec 20209002-Jan 202110002-Feb 20219502-Mar 202110502-Apr 20212-May 20218508002-June 20219002-July 20211000

The objective is to calculate the forecast error, absolute deviation, mean absolute deviation, bias…

Answered: 14. Given the following data for demand…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Plot the sales revenue figures and appropriate trend line on a graph and identify from this the choice of model for working out the seasonal component. Using the appropriate seasonal model, complete the calculations that are required to produce the required forecasts for quarters 1, 2, 3 and 4 of 2021. On the basis of your analysis explain the recommendation that you would make to ALAW Ltd regarding its future plans.
Given the following data for demand at the XYZ Company, calculate the monthly forecast for 2003 using a 3-month moving average. Calculate the Forecast, Error, MAD (mean absolute percentage error), Bias and the TS (tracking signal) .
Using the photo attached, One Stop Car Repairs ollects data on the actual demand for its services and uses this data to make forecasts. The actual number of transmissions that were repaired for the last ten periods IS ATTACHED IN THE PHOTO answer the following. 1. Using the trend projection manual method, forecast demand for transmission repairs for periods 11 and 12
What do the Forecast for each year add up to?
Compare the primary types of forecasting methods used to determine demand.
How can you evaluate the accuracy of a forecast model?
ZIMS store sells its products on installments in Karachi. The store decided to investigate the link between the life of the product and the cost. The data collected from store is shown in Table 1.1Table 1.1LIFE OF PRODUCT (Years) COST (Thousand Rupees)3.0 253.5 284.0 324.5 345.0 343.0 305.5 404.5 404.0 423.5 426.0 507.5 508.0 538.5 55a) Plot a scatter chart from the above data.b) Find the equation of the least square regression line in the form ? = ? + ??Given the value of a and b up to 3 decimal places. c) What are the exact interpretations of the estimated regression factors? d) Using your answer of part (b). Find the cost predicted by the regression line for 6.5 year’s life of a product.
(b) Table 1 shows consumables usage data from a leading manufacturer. Forecast the demand for August, September and October using: i) a three-month moving average ii) a four-month weighted moving average using 50 percent of the actual usage for the most recent month, 20 percent of two months ago, 15 percent of three months ago and 15 percent of four months ago. Using an example, explain what are the benefits of using the weighted moving average method of forecasting instead? Month February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 Consumables Used 884 892 972 990 956 880
Create a descriptive summary of the Revenue variable of the data.
John Kittle, an independent insurance agent, uses a five-year moving average to forecast the number of claims made in a single year for one of the large insurance companies he sells for. He has just discovered that a clerk in his employ incorrectly entered the number of claims made four years ago as 1,400 when it should have been 1,200.a. What adjustment should Mr. Kittle make in next year’s forecast to take into account the corrected value of the number of claims four years ago?b. Suppose that Mr. Kittle used simple exponential smoothing with a = .2instead of moving averages to determine his forecast. What adjustment is now required in next year’s forecast? (Note that you do not need to know the value of the forecast for next year in order to solve this problem.)
Aztec Industries has developed a forecasting model that was used to forecast during a 10-month period. The forecasts and actual demand were as follows: Measure the accuracy of the forecast by using MAD, MAPD, and cumulative error. Does the forecast method appear to be accurate?
Compute the NPV statistic for Project Y if the appropriate cost of capital is 12 percent. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your final answer to 2 decimal places.) Project Y Time: 1 2 3 4 Cash flow: -$8,000 $3,350 $4,180 $1,520 $300

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