March demand was pridicted at 590 units of gear cycles of trevaa Itd. But the actual demand was 400 units only so fourth the company now want to forecast the april demand using exponential smoothing model with constant alpha of 0.72., calculate the same.
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- Under what conditions might a firm use multiple forecasting methods?Question 1 ) The monthiy sales Of yamizí Battery company are asfollows:- Month Jales 2000 2100 1500 1400 1300 Calcuiate fore cost sales for June using each of the fo llowing method: - i) Naive Method 1M 3 Month Simple moving averoger Ti) Exponentral smoothing using an a =0:3 cand may forecast of 1600 units.Given November actual demand of 61, November forecast of 58, and an alpha of 0.4, November trend value +1.03, Beta of 0.3 what would the forecast including trend (FIT) for the December period be using exponential smoothing model 2? Select one: a. 62.03 b. cannot be found c. 68.76 d. 65.72
- National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000 units)Feb. 19Mar. 18Apr. 15May 20Jun. 18Jul. 22Aug. 20 Forecast September sales volume using each of the following: (1)The naive approach. (2)A five-month moving average. (3)A weighted average using .60 for August, .30 for July, and .10 for June.A weighted moving average using wl = 0.60; w2 = 0.30 and w3 = 0.10 Calculate MAD, MSE for each method and suggest the most appropriate method. C.The table shows the values found in the error analysis. What method of forecasting would be best to use? What is the forecasted value? MSE forecast for week 13 Time Series 1.08 14.76 3-week MA 3.04 13.67 exp smoothing 11.04 9.5 Group of answer choices A.) Time Series, forecasted value = 14.76 B.) 3-week MA, forecasted value = 13.67 C.) exp smoothing, forecasted value = 9.5 D.) Time Series, forecasted value = 1.08 E.) 3-week MA, forecasted value = 3.04 F.) exp smoothing, forecasted value = 11.04
- QUESTION 2:The manager of YTL Computers wants to develop next year’s quarterly forecasts of salesrevenue for its brand laptops. The sales are seasonal and the company believes that thefollowing most recent eight quarters of sales should be representative of next year’ssales: Year Quarter Sales (millions of dollars) 1 1 9.2 1 2 5.4 1 3 4.3 1 4 14.1 2 1 10.3 2 2 6.4 2 3 5.4 2 4 16.0 Determine the forecast of next year’s quarterly sales revenue for this line of laptops.Show all your workings.Year Bushels Simple Exp. Smoothing Forecast Trend Factor Adjusted Exp. Smoothing Forecast 1 48 48 0 48 2 52 48 0 48 3 54 49 .30 49.30 4 56 5 66 6 62 What is the simple exponential smoothing forecast for years 4-6? And also what is adjsted exponential smoothing forecast for these years 4-6?Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniques
- Determine the Forecast Error for the data below using the Mean Absolute Deviation (MAD) formula. Month Demand Forecast 16 205 210 17 197 175 18 230 210 19 240 228 20 252 220 Question 11 options: a) 15.8 b) 15.7 c) 19.1 d) 16.7Month Demand Forecast Error Abs Error 1 43 2 52 3 44 4 57 5 43 6 48 7 Sum Mean Bias MAD When using a 4 period moving average forecast (MAF): 1. What is the forecast for month 6? 2. What is the forecast error for month 6?Week Sales1 27502 31003 32504 28005 29006 30507 33008 31009 295010 300011 320012 3150Develop a three-week moving average. A.What is the forecast for week 5? (Make sure no decimal place and no comma. EX: 1234) B.What is the value of MSE (mean squared error) with regard to a three-week moving average? (Make sure no decimal place and no comma. EX: 1234) C.Develop the exponential smoothing with the alpha value of 0.20. What is the forecast for week 5? (Make sure no decimal place and no comma. EX: 1234) D.What is the value of MSE (mean squared error) with regard to the exponential smoothing? (Make sure no decimal place and no comma. EX: 1234) E.Which method is more accurate? (1 for Moving average, 2 for Exponential Smoothing)