Weekly demand for an item averaged 100 units over the past year. Actual demand for the next
Question:
Weekly demand for an item averaged 100 units over the past year. Actual demand for the next eight weeks is shown in what follows:
a. Plot the data on graph paper.
b. Letting α = 0.25, calculate the smoothed forecast for each week.
c. Comment on how well the forecast is tracking actual demand. Is it lagging or leading actual demand?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
a Plot b Smoothed forecast last week actual demand1last week forecast Smoothed forecast week 2 ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To Materials Management
ISBN: 978-9386873248
8th edition
Authors: Arnold J. R. Tony, Gatewood Ann K., M. Clive Lloyd N. Chapman Stephen
Question Posted:
Students also viewed these Earth sciences questions
-
The daily demand for an item is distributed normally, with a mean of 5 and a vari-ance of 2. The cost to place an order is $ 10, and the carrying charge per day is esti-mated at 10 percent of the...
-
The annual demand for an item that can be either purchased or produced is 3000 units. Costs associated with each alternative are as follows: Should the item be manufactured or purchased? What is the...
-
Over the past year Meredith and Smunt Manufacturing had annual sales of 10,000 portable water pumps. The average quarterly sales for the past 5 years have averaged: spring 4,000, summer 3,000, fall...
-
Listing 8.4 checks whether a solution is valid by checking whether every number is valid in the board. Rewrite the program by checking whether every row, every column, and every small box has the...
-
Consult Paragraph 9 of PCAOB Auditing Standard No. 5. Based on your understanding of inherent risk assessment, identify three specific factors about IOS and/or FOF that would be likely to impact your...
-
Use a graph to estimate the values of x such that ex > 1,000,000,000.
-
A Gallup poll taken in May 2016 asked 1025 adult Americans to state their opinion on the availability of abortions. The following table presents the results, along with the proportions of people who...
-
Should all companies consider reducing their sales forces in favor of telemarketing? Discuss the pros and cons of this action. Many companies are realizing the efficiency of telemarketing in the face...
-
Consider the data. x i 1 2 3 4 5 y i 2 8 6 10 14 QUESTIONS: (1) Compute the mean square error using equation s 2 = MSE = (sse/(n-2)) (2) Compute the standard error of the estimate using equation s =...
-
1. What are the main motives for the internationalization of EPE? 2. What can EPE do to maintain a steady income stream from abroad? 3. What are the most obvious assets for further...
-
Using exponential smoothing, calculate the forecasts for months 2, 3, 4, 5, and 6. The smoothing constant is 0.2, and the old forecast for month 1 is 245. Month 1 2 3 4 5 6 Actual Demand 260 230 225...
-
Given the following average demand for each month, calculate the seasonal indices for each month. Your answer, if done correctly, should have all the seasonal indices add up to the number of periods...
-
The cable in Figure P6.2 supports four simply supported girders uniformly loaded with \(6 \mathrm{kips} / \mathrm{ft}\). (a) Determine the minimum required area of the main cable \(A B C D E\) if the...
-
Marc, a single taxpayer, earns $ 6 0 , 0 0 0 in taxable income and $ 5 , 0 0 0 in interest from an investment in city of Birmingham bonds. Using the U . S . tax rate schedule for 2 0 2 3 , how much...
-
The changes in the value of a currency relative its pair is affected by multiple factors. The commonly observed factors include changes in interest rate, inflation, expectation, government control...
-
The average kinetic energy of the molecules of an ideal gas at 1 0 C has the value K 1 0 . At what temperature T 1 ( in degrees Celsius ) will the average kinetic energy of the same gas be twice this...
-
Leadership Style and Impact: Assess the three key elements of a leadership style and the impact that those elements can make on business success. Provide background for the answer and detailed...
-
On the first day of the fiscal year, a company issues a $990,000, 8%, 5-year bond that pays semiannual interest of $39,600 ($990,000 x 8% x 1/2), receiving cash of $884,176. Journalize the entry for...
-
A flow rate of 40 m3/s of outside air at 108C and 40% humidity is mixed with 20 m3/s of inside air from near the ceiling of an industrial plant at 368C and 70% humidity. The temperature of the mixed...
-
The MIT Sloan School of Management is one of the leading business schools in the U.S. The following table contains the tuition data for the masters program in the Sloan School of Management. a. Use...
-
The opening backlog is 800 units. Forecast demand is as shown here. Calculate the weekly production for level production if the backlog is to be reduced to 100 units. 3 5 2 4 6. Week Total Forecast...
-
The opening backlog is 1100 units. Forecast demand is as shown here. Calculate the weekly production for level production if the backlog is to be increased to 1200 units. 3 2 5 Total 4 6. Week...
-
For the following data, calculate the number of workers required for level production and the resulting month-end inventories. Each worker can produce 15 units per day, and the desired ending...
-
Georgeland Cycles makes and sells two models of electric bicycles. The Commuter (a folding model) sells for $2,505.00 and the Tour- X (a fat-tire trail model) sells for $4,505.00. Unit variable costs...
-
How do resistance genes alter the effectiveness of antibiotics that target proteins ?
-
Able Co. received $20,000 from a customer on April 1 for services to be provided partially in April and the rest in May. At the end of April, 11% of the services were complete. What is the amount...
Study smarter with the SolutionInn App