Income at the law firm Smith and Wesson for the period February to July was as follows:

Question:

Use trend-adjusted exponential smoothing to forecast the law firm€™s August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are Î± = .1 and Î² =.2.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Operations management

ISBN: 978-0132163927

10th edition

Authors: Jay Heizer, Barry Render

See More Books

Question Posted: Jul 15, 2013 04:45 AM

See More Questions

You are a new associate at the law firm of Dewey, Chetum, and Howe. John, a former researcher at PharmaCARE, comes to your office. He has concerns about PharmaCARE's use of AD23, one of the company's...
Use exponential smoothing with 2 between 0.1 and 0.4 to get forecasts one period ahead for the following time series. Use an initial value of F1 = 208 and say which value of ( isbest. 1 2 3 4 5 6 7 8...
Exponential smoothing is used to forecast automobile battery sales. Two value of are examined, = 0.8 and = 0.5. Evaluate the accuracy of each smoothing constant. Which is preferable? (Assume the...
Danbury Inc is a resident Canadian corporation with worldwide operations. Canadian operations resulted in taxable income of $ 1 . 1 0 million and non - Canadian operations resulted in taxable income...
Why are atomic nuclei more or less limited in size and in neutron-proton ratio? That is, why are there no stable nuclei with 10 times as many neutrons as protons, and why are there no atomic nuclei...
ATP has pKa values of 0.9, 1.5, 2.3, and 7.7; ADP has pKa values of 0.9, 2.8, and 6.8; and phosphoric acid has pKa values of 1.9, 6.7, and 12.4. Do the calculation showing that at pH 7.3: a. The...
Where you start matters. When comparing numbers over time, you can slant the comparison by choosing your starting point. Say the Chicago Cubs lose 5 games, then win 4, then lose 1. You can truthfully...
Use Goal Seek to determine the total finished square footage to meet the total cost goal of $350,000. Enter a series of total square footages ranging from 1,800 to 3,600 in increments of 200 in the...
A Limited has a product that has now finished its development phase and is about to be launched. The following details relate to the product over its estimated lifecycle: Launch Growth Maturity...
A rectangular gate is installed in a vertical wall of a reservoir, as shown in Fig. 4.26. Compute the magnitude of the resultant force on the gate and the location of the center of pressure. Also...
Consider the following actual (A1) and forecast (F1) demand levels for a product: The first forecast, F1, was derived by observing A1 and setting F1 equal to A1. Subsequent forecasts were derived by...
Resolve Problem 4.19 with Î± = .1 and Î² = .8. Using MSE, determine which smoothing constants provide a better forecast. In Problem 4.19, Income at the law firm Smith and...
In what ways do the classical and administrative models of decision making help managers appreciate the complexities of real-world decision making? [LO7-1]
In a fixed time and budget project, the customer wants the development of a core component to be based on agile practices, as the final scope of the requirement has not yet been fully developed. The...
1. Ace Pizzeria, a manufacturer of frozen pizzas, computes its predetermined overhead rate annually based on machine hours. At the beginning of the year, the company estimated that 165,000 machine...
From a group of 13 boys and 9 girls, a committee of 5 students is chosen at random. a. The probability that all 5 members on the committee will be girls is (Type an integer or a simplified fraction.)...
On December 1, 2020, Cream Ale Ltd. receives $1,800 in advance for an agreement to brew beer during the months of December, January, and February. What is the revenue recognized under accrual...
A survey shows that of 100 nurses, 75 play at least soccer, 95 play at least softball, and 50 play both soccer and softball. Is this possible? Step one: Understand the problem and organize the given...
The following is a series of accounts for Ortiz \& Ortiz Incorporated, which has been operating for two years. The accounts are listed and numbered for identification, followed by a series of...
Eleni Cabinet Company sold 2,200 cabinets during 2011 at $160 per cabinet. Its beginning inventory on January 1 was 130 cabinets at $56. Purchases made during the year were as follows: February . 225...
While changes must continually occur in every industry, one of the most baffling problems that business executives face is employee resistance to change. What are the common techniques to minimize...
Kiko Teddy Bear is a manufacturer of stuffed teddy bears. Kiko would like to be able to produce 40 teddy bears per hour on its assembly line. Use the information provided in Table to answer the...
A dress-making operation is being designed as an assembly line. Table shows the tasks that need to be performed, their task times, and preceding tasks. If the goal is to produce 30 dresses per hour,...
A dress-making operation is being designed as an assembly line. Table shows the tasks that need to be performed, their task times, and preceding tasks. If the goal is to produce 30 dresses per hour,...
A firm purchased a new piece of equipment with an estimated useful life of eight years. The cost of the equipment was $65,000. The salvage value was estimated to be $10,000 at the end of year 8....
5. Which of the following is the cheapest for a borrower? a. 6.7% annual money market basis b. 6.7% semi-annual money market basis c. 6.7% annual bond basis d. 6.7% semi-annual bond basis.
Waterloo Industries pays 30 percent corporate income taxes, and its after-tax MARR is 24 percent. A project has a before-tax IRR of 26 percent. Should the project be approved? What would your...

Income at the law firm Smith and Wesson for the period February to July was as follows:

Question:

Month Income (in $ thousand) February Marc April May June July 70.0 68.5 64.8 71.7 71.3 72.8

Step by Step Answer:

Trend adjusted exponential smoothing a 01 b 02 Unadjus...View the full answer

Operations management

Students also viewed these Management Leadership questions