The actual demand and forecast demand for January is 47 and 48 respectively. What is its...
The actual demand and forecast demand for January is 47 and 48 respectively. What is its forecast error?
Homework Answers
Answer: -1
Explanation:
Forecast Error = Actual Demand - Forecast Demand = 47 - 48 = -1
Add Answer to:
The actual demand and forecast demand for January is 47 and 48
respectively. What is its...
A manager has been using a certain technique to forecast demand for project management software at...
A manager has been using a certain technique to forecast demand for project management software at her store. Actual demand and her corresponding predictions are shown below: MonthActual Demand Manager's Forecast March4545April4250May3445June4840July3845 a. What was the manager's forecast error for each month?b. What is the mean error (ME), the mean squared error (MSE), the mean absolute deviation (MAD), and the tracking signal for these five months of forecasting?c. If the manager had used a 3-month moving average instead of her technique, what would have...
(a) A firm uses simple exponential smoothing with a = 0.1 to forecast demand. The forecast...
(a) A firm uses simple exponential smoothing with a = 0.1 to forecast demand. The forecast for the week of January 1 was 500 units, whereas actual demand turned out to be 450 units. Determine the forecast demand for the week of January 8. (b) What is the difference between a causal model and a time-series model?
[18-22The following table shows monthly actual and forecast air passenger demand on Stockton Airlines ACTUAL FORECAST...
[18-22The following table shows monthly actual and forecast air passenger demand on Stockton Airlines ACTUAL FORECAST ERROR RSFE MAD 180 TIME PERIOD Jan Feb Mar Apr 2 7 210 130 190 NA 2 30 2 2 NA TRACKING SIGNAL -10 2 ? NA 2 2 NA NA Using exponential smoothing (0.5) what will be the air passenger demand in April? O A 16725 8.171.25 c. 17425 0.17625 QUESTION 19 25 points In March, what is the running sum of the...
Given an actual demand this period of 103, a forecast value for this period of 99
Given an actual demand this period of 103, a forecast value for this period of 99, and an alpha of 0.4, what is the exponential smoothing forecast for next period?
The following are monthly actual and forecast demand levels for May through December for units of...
The following are monthly actual and forecast demand levels for May through December for units of a product manufactured by the D. Bishop company in Des Moines: Month Actual demand Forecast demand may 100 100 june 80 104 july 110 99 august 115 101 septmeber 105 104 october 110 104 november 125 105 december 120 109 What is the value of the tracking signal as of the end of december?
Given the forecast demand and actual demand for 10-foot fishing boats and 15-foot fishing boats, determine...
Given the forecast demand and actual demand for 10-foot fishing boats and 15-foot fishing boats, determine which forecast is more accurate 10-foot fishing boats Year Forecast Demand Actual Demand YEAR 1 78 71 YEAR 2 75 80 YEAR 3 83 101 YEAR 4 84 84 YEAR 5 88 68 YEAR 6 85 73 15-foot fishing boats Year Forecast Demand Actual Demand YEAR1 78 72 YEAR2 75 79 YEAR 3 93 101 YEAR 4 80 84 YEAR 5 88 75 YEAR6...
Consider the following actual and forecast demand levels for Big Mac hamburgers at a local​ McDonald's...
Consider the following actual and forecast demand levels for Big
Mac hamburgers at a local​ McDonald's restaurant:
Day Monday Tuesday Wednesday Thursday Friday Actual Demand 88.00 75.00 70.00 52.00 Forecast Demand 88.00 88.00 84.10 79.87 The forecast for Monday was derived by observing Monday's demand level and setting Monday's forecast level equal to this demand level. Subsequent forecasts were derived by using exponential smoothing with a smoothing constant of 0.30. Using this exponential smoothing method, the forecast for Big Mac...
A company had developed a forecast using the Delphi method for January through June. Month Demand...
A company had developed a forecast using the Delphi method for January through June. Month Demand Forecast January 225 240 February 240 230 March 230 235 April 225 230 May 229 225 June 260 230 Using the data provided what is the Mean Absolute Deviation for the forecast method? 3.17 -3.17 11.5 69 Using the data provided, what is the Mean Squared Error? 215.17 20.5% 9.4% 12% Using the data provided what is the MAPD? 5.7% 2.1% 4.9% 3.6%
1. Forecast demand for Year 4. a. Explain what technique you utilized to forecast your demand....
1. Forecast demand for Year 4.
a. Explain what technique you utilized to forecast your
demand.
b. Explain why you chose this technique over others.
Year 3 Year 1 Year 2 Actual Actual Actual Forecast Forecast Forecast Demand Demand Demand Week 1 52 57 63 55 66 77 Week 2 49 58 68 69 75 65 Week 3 47 50 58 65 80 74 Week 4 60 53 58 55 78 67 57 Week 5 49 57 64 76 77...
Given an actual demand of 107, a previous forecast value of 109, and an alpha of...
Given an actual demand of 107, a previous forecast value of 109, and an alpha of 0.82, the exponential smoothing forecast for the next period would be (rounded to 2 decimals)
(a) A firm uses simple exponential smoothing with a = 0.1 to forecast demand. The forecast for the week of January 1 was 500 units, whereas actual demand turned out to be 450 units. Determine the forecast demand for the week of January 8. (b) What is the difference between a causal model and a time-series model?
[18-22The following table shows monthly actual and forecast air passenger demand on Stockton Airlines ACTUAL FORECAST ERROR RSFE MAD 180 TIME PERIOD Jan Feb Mar Apr 2 7 210 130 190 NA 2 30 2 2 NA TRACKING SIGNAL -10 2 ? NA 2 2 NA NA Using exponential smoothing (0.5) what will be the air passenger demand in April? O A 16725 8.171.25 c. 17425 0.17625 QUESTION 19 25 points In March, what is the running sum of the...
Consider the following actual and forecast demand levels for Big
Mac hamburgers at a local​ McDonald's restaurant:
Day Monday Tuesday Wednesday Thursday Friday Actual Demand 88.00 75.00 70.00 52.00 Forecast Demand 88.00 88.00 84.10 79.87 The forecast for Monday was derived by observing Monday's demand level and setting Monday's forecast level equal to this demand level. Subsequent forecasts were derived by using exponential smoothing with a smoothing constant of 0.30. Using this exponential smoothing method, the forecast for Big Mac...
1. Forecast demand for Year 4.
a. Explain what technique you utilized to forecast your
demand.
b. Explain why you chose this technique over others.
Year 3 Year 1 Year 2 Actual Actual Actual Forecast Forecast Forecast Demand Demand Demand Week 1 52 57 63 55 66 77 Week 2 49 58 68 69 75 65 Week 3 47 50 58 65 80 74 Week 4 60 53 58 55 78 67 57 Week 5 49 57 64 76 77...
Most questions answered within 3 hours.
-
A $1000 par value convertible bond has a conversion price of
$25. It is currently selling...
asked 7 minutes ago -
Write a java program that declares 10 element array (of type
integers), creates and initializes the...
asked 4 minutes ago -
import java.util.Arrays;
import java.util.Random;
import java.util.Scanner;
/**
* TODO Write a summary of the role of...
asked 10 minutes ago -
Sodium hydroxide is a strong base and ammonium hydroxide is a
weak base. Which of the...
asked 15 minutes ago -
Glycerol, C3H8O3, is a substance used extensively in the
manufacture of cosmetics, foodstuffs, antifreeze, and plastics....
asked 18 minutes ago -
After moving through Chapter 1 of our textbook, what is a social
issue/area of concern that...
asked 18 minutes ago -
Please complete the implementation of the four functions IN
C.
//************************************************************************************/
//
// countNumberofOnes
//
//...
asked 39 minutes ago -
A memory test consists of 35 tasks. Each task is graded on a
scale of 1...
asked 19 minutes ago -
Construction Cost Analysis and Estimating:
A project requires 17,000 allowed hours. Location of the work is...
asked 28 minutes ago -
1: In 802.11b, Access Point (AP) delivers a nonce to the Station
(STA). This nonce is...
asked 29 minutes ago -
calculate change in entropy and change in enthalpy for freezing
1 mol of water at -10C...
asked 35 minutes ago -
In your opinion, did anyone "win" the Cold War? If no, why? If
yes, who won...
asked 39 minutes ago