The values of Alabama building contracts (in $ millions) for a 12‐month period follow: 240 350...
The values of Alabama building contracts (in $ millions) for a
12‐month period follow: 240 350 230 260 280 320 220 310 240 310 240
230
a. Construct a time series plot. What type of pattern exists in the
data? (4 marks)
b. Compare the three‐month moving average approach with the
exponential smoothing forecast using α=0.4. Which
approach provides more accurate forecasts based on MSE? (6
marks)
c. What is the forecast for the next month? (3 marks)
d. Explain how you would find the optimum level of α for this data.
(6 marks)
Please answer this question at α=0.4. I have
submission deadline. Also if possible please post the solution
typed and in understanding font and size. Please.
Homework Answers
Add Answer to:
The values of Alabama building contracts (in $ millions) for a
12‐month period follow: 240 350...
The values of Alabama building contracts (in millions of dollars) for a 12-month period follow. 230 340 230 270 280 320 220 310 240 290 260 
The values of Alabama building contracts (in millions of dollars) for a 12-month period follow. 230 340 230 270 280 320 220 310 240 290 260 230 Choose the correct time series plot. (i) Value (Millions of dollars) Month (t) (ii) Value (Millions of dollars) Month (t) (iii) Value (Millions of dollars) Month (t) (iv) Value (Millions of dollars) Month (t) ________________ What type of pattern exists in the data? ______________ Compare a three-month moving average forecast with an exponential smoothing forecast. Use = 0.2. Which provides the better forecasts based...
Need help with #2. The data set mentioned is the numbers that are provided. 7.pdf Get Homework Help With Chege + × Homework%20%237.pdf Does the three-month or four-month moving average provide more ac...
Need help with #2. The data set mentioned is the numbers that
are provided.
7.pdf Get Homework Help With Chege + × Homework%20%237.pdf Does the three-month or four-month moving average provide more accurate d) forecasts based on MSE? What is the forecast for the next month using the better forecasting method e) you decided in part d)? Problem 13 on Page 822. The values of Alabama building contracts (in Smillions) for a 12-month period follow. 240 350 230 260 280...
Omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a....
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...
Consider the following time series data.
Please help :) a. Which of the following is a correct time series plot for this data? 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). c. Use α-.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for month 8 (to 2 decimals). Enter negative values as negative number. d. Compare the three-month moving average approach with the exponential smoothing approach using...
excel spreadsheet information: Month Sales (in millions of boxes) 1 1306 2 1305 3 1311 4...
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...
AutoSave of Exam3 PartB_SP20_Due_04_24 - Excel File Home insert Draw Page Layout Formulas Data Review View...
AutoSave of Exam3 PartB_SP20_Due_04_24 - Excel File Home insert Draw Page Layout Formulas Data Review View Help Search ΑΙ Formula Bar с 1 Week Week D E F G H I J On 3a [10 points). Data set to your left (sheet On3a) contains information on weekly sales for a local grocery store over a 12-week period. Use the data set to answer the following questions 1. Construct a time series plot. What type of pattern exists in the data?...
answer 1-3 please don't copy from previous post. good luck Problems #3, 5, 7 (P3) The...
answer 1-3 please don't copy from previous post. good luck Problems #3, 5, 7 (P3) The owner of the Chocolate Outlet Store wants to forecast chocolate demand. Demand for the preceding four years is shown in the following table: Year Demand (Pounds) 1 68,800 2 71,000 3 75,500 4 71,200 Forecast demand for Year 5 using the following approaches: (1) a three-year moving average; (2) a three-year weighted moving average using .40 for Year 4, .20 for Year 3, and...
Please help with questions 7 - 10. PART IV Planning and Controling Operations and Supply Chains...
Please help with questions 7 - 10.
PART IV Planning and Controling Operations and Supply Chains 290 period 1 was 250. Plot the results. Which model appears to work better? Why? 10. After graduating from college, you and your friends start selling birdhouses made from recycled plast has caught on, as shown by the following sales figures For problems 4 through 6, use the following time series data: The idea DEMAND MONTH January 2012 February March April May June 119...
Need help with #2. The data set mentioned is the numbers that
are provided.
7.pdf Get Homework Help With Chege + × Homework%20%237.pdf Does the three-month or four-month moving average provide more accurate d) forecasts based on MSE? What is the forecast for the next month using the better forecasting method e) you decided in part d)? Problem 13 on Page 822. The values of Alabama building contracts (in Smillions) for a 12-month period follow. 240 350 230 260 280...
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...
Please help :) a. Which of the following is a correct time series plot for this data? 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). c. Use α-.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for month 8 (to 2 decimals). Enter negative values as negative number. d. Compare the three-month moving average approach with the exponential smoothing approach using...
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...
AutoSave of Exam3 PartB_SP20_Due_04_24 - Excel File Home insert Draw Page Layout Formulas Data Review View Help Search ΑΙ Formula Bar с 1 Week Week D E F G H I J On 3a [10 points). Data set to your left (sheet On3a) contains information on weekly sales for a local grocery store over a 12-week period. Use the data set to answer the following questions 1. Construct a time series plot. What type of pattern exists in the data?...
Please help with questions 7 - 10.
PART IV Planning and Controling Operations and Supply Chains 290 period 1 was 250. Plot the results. Which model appears to work better? Why? 10. After graduating from college, you and your friends start selling birdhouses made from recycled plast has caught on, as shown by the following sales figures For problems 4 through 6, use the following time series data: The idea DEMAND MONTH January 2012 February March April May June 119...
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