1. Develop a 5-month moving average for the below given. What will be the forecast month 15? Compute for the MAD, MSE and MAPE. Month Unit Sales 1 120 124 3 130 145 155 110 7. 114 8. 156 121 Page 118 1 2 10 4, 5, 6 9,
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- Under what conditions might a firm use multiple forecasting methods?Apple Corporation is planning to produce their new product called the next generation low cost iPhone the said product will compete the product lines of Samsung, the management is hoping that it will further increase their revenue starting 2nd Quarter of 2018. Below is the historical data of actual sales and forecast of iPhone last 2017: Forecast Sales in Million Actual sales in Million Month Units Units Jan 51 55.3 Feb 52 54.1 Mar 53 62.3 Apr 55 61.1 May 57 58.6 June 60 59.2 July 62 67.3 Aug 65 70.2 Sep 68 75.1 Oct 69 79.2 Nov 70 80.1 Dec 75 81.2 Solve the following questions: According to operations manager the bottleneck process is tester with weekly capacity of 120,500 units and it has machine inventory of 85 testers, how many additional testers are needed to support the startup of the new product? Per feedback from accounting department the fixed cost for investing the new product is 4,500,000andvariablecostof0.75 per unit and selling price of $5 per unit, how much quantity is…National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000 units)Feb. 19Mar. 18Apr. 15May 20Jun. 18Jul. 22Aug. 20 Forecast September sales volume using each of the following: (1)The naive approach. (2)A five-month moving average. (3)A weighted average using .60 for August, .30 for July, and .10 for June.
- The table shows the values found in the error analysis. What method of forecasting would be best to use? What is the forecasted value? MSE forecast for week 13 Time Series 1.08 14.76 3-week MA 3.04 13.67 exp smoothing 11.04 9.5 Group of answer choices A.) Time Series, forecasted value = 14.76 B.) 3-week MA, forecasted value = 13.67 C.) exp smoothing, forecasted value = 9.5 D.) Time Series, forecasted value = 1.08 E.) 3-week MA, forecasted value = 3.04 F.) exp smoothing, forecasted value = 11.04Apple Corporation is planning to produce their new product called the next generation low cost iPhone the said product will compete the product lines of Samsung, the management is hoping that it will further increase their revenue starting 2nd Quarter of 2021 Below is the historical data of actual sales and forecast of iPhone last 2020: Forecast Sales in Million Actual sales in Million Month Units Units Jan 51 55.3 Feb 52 54.1 Mar 53 62.3 Apr 55 61.1 May 57 58.6 June 60 59.2 July 62 67.3 Aug 65 70.2Home-Style Cookies tracks monthly sales by type of cookie, see the following table. Month Chocolate Chip (000 units) Peanut Butter (000 units) Filled (000 units) Feb. 19 15 10 Mar. 18 14 9 Apr. 15 11 8 May 20 16 11 Jun. 18 14 10 Jul. 22 18 12 Aug. 20 16 10 Sep. Create a line chart in Excel showing monthly sales by type of cookies (each type will have its own line); then, forecast September sales volume for chocolate chip cookies using each of the following: the naïve approach; a 5-month moving average; a weighted average using .60 for August, .30 for July, and .10 for June; and a linear trend equation.
- 15. The Vision Hospital is considering the purchase of a new Advance Scan machine. The decision will rest partly on the anticipate patients in the coming months. The numbers of patents during the past years are as follows: Year Number of patents(Actual) 1600 2016 2017 2200 2018 2600 2019 2800 | 2020 3100 Compute the forecast for the year 2021 using exponential smoothing with a forecast for the year 2016 of 1500 and a = .3Plot the table and give at least three observations from the plot according to the given data Weeks Calls 3 month Weighted Moving Average Error =Abs (Actual -Forecasted) (Sum of Absolute percent error) 1 50 2 35 3 25 4 40 31.42857143 8.571428571 21.42857143 5 45 35 10 22.22222222 6 35 40.71428571 5.714285714 16.32653061 7 20 38.57142857 18.57142857 92.85714286 8 30 27.85714286 2.142857143 7.142857143 9 35 27.85714286 7.142857143 20.40816327 10 20 31.42857143 11.42857143 57.14285714 11 15 25.71428571 10.71428571 71.42857143 12 40 19.28571429 20.71428571 51.78571429 13 55 30 25 45.45454545 14 35 45 10 28.57142857 15 25 41.42857143 16.42857143 65.71428571 16 55 32.14285714 22.85714286 41.55844156 17 55 43.57142857 11.42857143 20.77922078 18 40 50.71428571…The following gives the number of pints of type Bblood used a t Woodlawn Hospital in the past 6 weeks: a) Forecast the dema nd for the week of October 12 using a3-week moving average.b) Use a 3-week weighted moving average, with weights of .I , .3,and .6, using .6 for the most recent week. Forecast demand forthe week of October 12.c) Compute the forecast for the week of October 12using exponentialsmoothing with a forecast for August 31 of 360 and a = .2
- joxNjE1/a/NTE1MD92MZK5MDY1/details Open with Google Docs 1. National Mixer, inc. sells can openers. Monthly sales for a seven-month period were as follows: Sales Month (000units) Feb 19 Mar 18 Apr May June 15 20 18 July Aug 22 20 Forecast September sales using each of the following: A The Naive Approach B. Three month moving average C.A weighted moving average using 0.60 for the recent month, 0.30 for two months ago, and 0.10 for three months ago D. Exponential smoothing with a smoothing constantof 0.20 E Calculate the forecast errors for Moving Average, Weighted Moving Average and Exponential Smoothing, this includes: MAD, MSE and MAPE Page 2 1 3Given November actual demand of 61, November forecast of 58, and an alpha of 0.4, November trend value +1.03, Beta of 0.3 what would the forecast including trend (FIT) for the December period be using exponential smoothing model 2? Select one: a. 62.03 b. cannot be found c. 68.76 d. 65.72Week Sales1 27502 31003 32504 28005 29006 30507 33008 31009 295010 300011 320012 3150Develop a three-week moving average. A.What is the forecast for week 5? (Make sure no decimal place and no comma. EX: 1234) B.What is the value of MSE (mean squared error) with regard to a three-week moving average? (Make sure no decimal place and no comma. EX: 1234) C.Develop the exponential smoothing with the alpha value of 0.20. What is the forecast for week 5? (Make sure no decimal place and no comma. EX: 1234) D.What is the value of MSE (mean squared error) with regard to the exponential smoothing? (Make sure no decimal place and no comma. EX: 1234) E.Which method is more accurate? (1 for Moving average, 2 for Exponential Smoothing)