is Question: 10 pts 13 of 14 (11 complete) ? This Quiz: 70 pts po Following...
Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in thousands of gallons: Forecast Method 1 Forecast Method 2 Week Week Actual Demand 0.70 1.00 0.96 1.00 0.95 1.02 0.92 1.22 AWN Actual Demand 0.70 1.00 0.96 1.00 0.77 1.19 0.88 1.15 NM The MAD for Method 1 = 0.145 thousand gallons (round your response to three decimal...
Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in thousands of gallons: Forecast Week Method 1 Actual Demand 0.72 1.05 1.00 0.97 Forecast Method2 0.80 1.20 0.88 1.15 Actual Demand 0.72 1.05 1.00 0.97 Week 0.90 1.02 0.92 1.22 2 3 4 4 The MAD for Method 1thousand gallons (round your response to three decimal places) The...
Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in thousands of gallons Week Week Forecast Method 1 0.95 1.02 0.92 1 17 Actual Demand 0.72 100 107 Forecast Method 2 0.82 120 Actual Demand 0.72 092 1.11 107 1.00 1.00 The MAD for Method 1 - thousand gallons (round your response to the decimal places) Enter your...
Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 18 14 16 11 17 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy: Mean absolute error (MAE) Mean squared error (MSE) Mean absolute percentage error (MAPE) Round your answers to two decimal places. MAE = MSE = MAPE = Using the average of all the historical data as a...
The following table shows predicted product demand using your particular forecasting method along with the actual demand that occurred: FORECAST ACTUAL 1,490 1,540 1,390 1,490 1,690 1,590 1,742 1,640 1,790 1,690 a. Compute the tracking signal using the mean absolute deviation and running sum of forecast errors. (Negative values should be indicated by a minus sign. Round your "Mean Absolute Deviation", "Tracking Signal" to 2 decimal places and all other answers to the nearest whole number.) Period Forecast Actual Deviation...
The following table contains the demand from the last 10 months: MONTH ACTUAL DEMAND 1 33 2 29 3 32 4 33 5 35 6 32 7 35 8 42 9 44 10 45 a. Calculate the single exponential smoothing forecast for these data using an α of 0.10 and an initial forecast (F1) of 33. (Round your answers to 2 decimal places.) b. Calculate the exponential smoothing with trend forecast for these data using an α of 0.10, a...
The following table contains the demand from the last 10 months: MONTH ACTUAL DEMAND 1 34 2 37 3 38 4 37 5 40 6 37 7 42 8 44 9 41 10 42 a. Calculate the single exponential smoothing forecast for these data using an ? of 0.20 and an initial forecast (F1) of 34. (Round your intermediate calculations and answers to 2 decimal places.) Month Exponential Smoothing 1 2 3 4 5 6 7 8 9 10 b....
The following table contains the demand from the last 10 months: MONTH ACTUAL DEMAND 1 36 2 38 3 40 4 41 5 43 6 42 7 43 8 45 9 46 10 48 a. Calculate the single exponential smoothing forecast for these data using an α of 0.30 and an initial forecast (F1) of 36. (Round your intermediate calculations and answers to 2 decimal places.) b. Calculate the exponential smoothing with trend forecast for these data using an α...
I just need help with those marked with a red X, and the last question thank you! Problem 15-08 (Algorithmic) Refer again to the gasoline sales time series data in the following table. Week Sales (1000s of gallons) a. Using a weight of 1/2 for the most recent observation, 1/3 for the second most recent, and 1/6 for third most recent, compute a three-week weighted moving average for the time series. Use rounded for two decimal places values for intermediate...