Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. forecasting , the complete answers to these questi

FORECASTING , THE COMPLETE ANSWERS TO THESE QUESTIONS WILL RECEIVE A THUMBS UP! Weekly demand figures at...

50.1K

Verified Solution

Question

Basic Math

FORECASTING , THE COMPLETE ANSWERS TO THESE QUESTIONS WILLRECEIVE A THUMBS UP!

Weekly demand figures at Hot Pizza are as follows:

Week

Demand

1

108

2

116

3

118

4

124

5

96

6

119

7

96

8

102

9

112

10

102

11

92

12

91

Estimate demand for the next 4 weeks using a 4-weekmoving average as well as simple exponential smoothing with? = 0.1. Evaluate the MAD, MAPE, MSE, bias, and TS in eachcase. Which of the two methods do you prefer? Why?

For the Hot Pizza data in Exercise 2, compare the performance ofsimple exponential smoothing with ? = 0.1 and ? =0.9. What difference in forecasts do you observe? Which of the twosmoothing constants do you prefer?

I NEED ALL THE ERRORS , FOR MOVING AVERAGE AND EXPONENTIALSMOOTHING AND THE 4 WEEK FORECAST RESULTS , THANK YOU , THE ANSWERSTO THE QUESTIONS!!!!!

EtAtbiasMSEMADPercent ErrorMAPETS

Answer & Explanation Solved by verified expert
3.7 Ratings (367 Votes)
The 4 week Moving Average MA forecastThe average of four week are obtained by taking the average ofthe current year and the previous three yearWeekDemand4 week MA1108211631184124116559611356119114257961087581021032591121072510102103119210212919925The forecast for the next 4 week is the forecast obtained on12th week HenceWeek4 week MA forecast139925149925159925169925Now the MAD MAPE MSE bias and TS are estimated using theformulaWeekAt4 week    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Average blood velocity is 11cm/s in the human ascending aorta. The average diameter of the aorta...

Medical Sciences
Q

Experiment #2: An experiment run found that the two enantiomers of Isoflurane do not act the...

Chemistry
Q

Explain how patterns of communication differ in some of the most common familial relationships.

Psychology
Q

A drop of blood hits the ground at 35 degrees, what shape does it form?SquareStreakEllipse...

Biology
Q

A stretched wire of length 114 cm is divided into three segments whose frequencies are...

Physics
Q

The volumes of two similar solids are 729 m and 125 m The surface area...

Geometry
Q

Find the distance between each pair of points. Round to the neares tenth, if necessary.A(5,0),...

Geometry
Q

While examining cash receipts information, the accounting department determined the following information: opening cash balance...

Accounting
Q

X Company is thinking about expanding the production of Product A and eliminating Product B....

Accounting
Q

Reader Inc purchased a machine costing $80,000 on January 3rd. The machine is expected to...

Accounting
Q

A review of Sunshines accounting records at the end of the period disclosed a material...

Accounting
Q

Initial Knowledge Check Question 13 On December 31, Roberts Company had the...

Accounting