(2) What are the four (4) Qualitative Models? Explain each with examples. (3) State and Discuss four (4) components of a Time-Series. (4) Using Wallace Gardens Supply sales data in Table 5.2, if the November and December sales are changed to 17 and 16 respectively, what will be the Moving Average Forecasts for coming January month. Show all calculations clearly. (5) (a) State the Structure of Exponential Smoothing, and explain the role of "Alpha." (b) From the Port of Baltimore example, using MAD (mean absolute deviation), which Alpha is the best between Alpha = .10 and Alpha = .50, and why?
****Answering 1 question as per Chegg guideline****
(2) What are the four (4) Qualitative Models? Explain each with examples.
(2) What are the four (4) Qualitative Models? Explain each with examples. (3) State and Discuss...
excel spreadsheet information: Month Sales (in millions of boxes) 1 1306 2 1305 3 1311 4 1313 5 1324 6 1329 7 1346 8 1347 9 1378 10 1394 11 1441 12 1469 Problem 3 You have realized that the sales for Select-A-Size Paper Towel packs have been increasing over the past year. You have learned that the double exponential smoothing method can account for such a trend in the data. Use double (trend-adjusted) exponential smoothing method to forecast sales...
please explain your answer. 2:5-34 Resolve Problem 5-33 with a = 0.3. Using MAD, which smoothing constant provides a better forecast? 3:5-35 A major source of revenue in Texas is a state sales tax on certain types of goods and services. Data are com- piled, and the state comptroller uses them to project future revenues for the state budget. One particular category of goods is classified as Retail Trade. Four years of quarterly data (in $1,000,000s) for one par- ticular...
Examples 1,2,3 1. Beyond Tea Inc. wants to forecast sales of its menthol green tea. The company is considering either using a simple mean or a three-period moving average to forecast monthly sales. Given sales data for the past 10 months use both forecasting methods to forecast periods 7 to 10 and then evaluate each. Which method should they use? Use the selected method to make a forecast for month 11. (Show all calculations .... Please read Examples1, 2, 3...