1. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 90 percent of capacity; actual usage was 87.6 percent of сарacity. A smoothing constant of .1 is used. a. Prepare a forecast for September. b. Assuming actual September usage of 92 percent, prepare a forecast for October usage.
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- Under what conditions might a firm use multiple forecasting methods?22. Handy, Inc., produces a solar-powered electronic calculator that has experienced the following monthly sales history for the first four months of the year, in thousands of units: 23.3 March January February 30.3 72.3 April 15.5 a. If the forecast for January was 25, determine the one-step-ahead forecasts for February through May using exponential smoothing with a smoothing con- stant of a = .15. b. Repeat the calculation in part (a) for a value of a forecasts do you observe? c. Compute the MSES for the forecasts you obtained in parts (a) and (b) for February through April. Which value of a gave more accurate forecasts, based on the MSE? .40. What difference in theQuestion 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.
- Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniquesA dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 88 percent of capacity; actual usage was 89.6 percent of capacity. A smoothing constant of .1 is used. a. Prepare a forecast for September. b. Assuming actual September usage of 92 percent, prepare a forecast for October usage.National Mixer, Inc., sells can openers. Monthly sales for a seven-month period were as follows: Month Sales (000 units) Feb 19 Mar 18 Apr May 15 20 Jun 18 July Aug. 22 20
- 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. 65.72Question No. 1List the specific weaknesses of each of these approaches to developing a forecast:a. Consumer surveys.b. Salesforce composite.c. Committee of managers or executives. Question No. 2What kinds of capacity problems do many elementary and secondary schools periodically experience? What are some alternatives to deal with those problems? Question No. 3The XYZ company produces all type of office furniture. The “Executive Secretary” is a chair that has been designed using ergonomics to provide comfort during long office hours. The chair sells for $130. There are 480 minutes available during the day, and the average daily demand has been 50 chairs. There are eight tasks; TaskTime (min)Immediate predecessor A4- B7- C6A, B D5C E6D F7E G8E I6F, G Draw a precedence diagram of this operationWhat is the cycle time for this operation?What is the theoretical minimum number of workstations?Assign tasks to the workstationsWhat is the idle time per cycle?What is the efficiency of the…Problem 3-2 (Algo) National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as fol Month Feb. Mar. Apr. May. Jun. Jul. Aug. Sales (000) Units 19 22 8 1272 24 19 27 22 Click here for the Excel Data File a. Forecast September sales volume using each of the following: (1) The naive approach.
- Handy, Inc., produces a solar-powered electronic calculator that has experiencedthe following monthly sales history for the first four months of the year, inthousands of units:January 23.3 March 30.3February 72.3 April 15.5a. If the forecast for January was 25, determine the one-step-ahead forecasts forFebruary through May using exponential smoothing with a smoothing constant of a=.15.b. Repeat the calculation in part (a) for a value of a= .40. What difference in theforecasts do you observe?c. Compute the MSEs for the forecasts you obtained in parts (a) and (b) forFebruary through April. Which value of a gave more accurate forecasts, basedon the MSE?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)17. Statistical and observational methods, where adequate data or settings are available in which to apply them, are superior to survey methods of forecasting. Select one O True O False