Below are the forecasts and actual demands for the first three months of the year. Calculate...
Below are the forecasts and actual demands for the first three months. What is the Mean Absolute Deviation (MAD) for these three months? Forecast Actual Month 1 Month 2 Month 3 14 14 13 11 16 13 1.00 O 1.67 O 1.33 2.67
Below are the forecasts and actual demands for the first three months. What is the Mean Absolute Deviation (MAD) for these three months? Forecast Actual Month 1 Month 2 Month 3 14 14 11 10 16 13 O 1.00 2.67 1.33 1.67
omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a. Which of the following is a correct time series plot for this data? や" -Select your answer- What type of pattern exists in the data? -select your answer- b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8 (to 2 decimals if necessary). Enter negative values as...
Complete PART (b) ONLY. Please use answer from Part (a). Please complete this using EXCEL; SHow the steps/ excel calculations. Month Actual Demand 1 62 2 65 3 67 4 68 5 71 6 73 7 76 8 78 9 78 10 80 11 84 12 85 part (a) MY answer to Part (a): Part (b) (b) Now calculate all the measures of forecasting accuracy listed below for the single exponential smoothing forecast completed in part (a) -i) MAPE (Mean...
Moving Averages. Use the below actual sales to calculate a three-year average which will be used as the forecast for next periods (chapter 14, text). Exponential Smoothing. Use the same data to forecast sales for the next periods with α=.40 (chapter 14, text) Month Actual Sales 1 3050 2 2980 3 3670 4 2910 5 3340 6 4060 7 4750 8 5510 9 5280 10 5504 11 5810 12 6100
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...
1. Comparing forecast models Aa Aa A statistician for the Boston Police Department developed forecasts of monthly armed robberies in Boston from June 1974 to May 1975 using two forecasting methods, model A and model B. His forecasts, absolute forecast errors, and squared forecast errors for both forecasting techniques, along with the actual time series, are displayed in the following table. The time series plot of the data is shown under the table. (Data source: Time Series Data Library.) Model...
is Question: 10 pts 13 of 14 (11 complete) ? This Quiz: 70 pts po 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 Actual Week Method 2 Demand Forecast Actual Week Method 1 Demand 0.95 1.02 0.92 1.22 0.68 1.05 0.96 1.00 0.77 1.20 0.90 1.15 0.68 1.05 0.96 1.00 The MAD...
Forecasts and actual sales of MP3 players at Just Say Music are as follows: Month Forecast Actual Sales March 150 170 April 220 229 May 205 192 June 256 241 July 250 238 August 260 210 September 270 225 October 280 179 Answer the following questions. a. Plot the data and provide through insights about the time series. (Use Microsoft Excel and attach the time series graph.) b. What is the forecast for November, using a two-period moving average? c....