Determine the forecast of next year’s quarterly sales revenue for this line of laptops. Show all your workings.
Q: Solve the following: 1. Sales of Volkwagen’s popular Beetle have grown steadily at auto dealership…
A: Formula used to calculate the Forecast for years 2 to 6 = Forecast of previous year + α(Previous…
Q: List the types of forecasts?
A: Forecasting refers to the techniques that are used for making the prediction based on the present…
Q: Forecasting Ticket Revenue for Orlando Magic Basketball Games For its first two decades of…
A: Given data, Team Date Day of Week Time of Year Rating of the opponent Additional sales…
Q: 1. The department manager using a combination of methods has forecast sales of toasters at a local…
A: The answer is as below: WE ARE ALLOWED TO DO ONE QUESTION ONLY AT AT TIME.
Q: 1 Given the data below. Find the forecast value from June to December Month Actual Demand Forecast…
A: The method of least squares is a common technique in regression analysis to estimate the solution of…
Q: The forecast for week 6 is ___ service calls (round to two decimals and show your work)
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: For this final assignment I’d like you to call upon your knowledge of forecasting to help project…
A: Find the Given details below: Given details: Time Year Quarter Individual Donations Donations…
Q: 2. National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period…
A: Note: - Since we can answer only up to three subparts we will answer the first three subparts(a,…
Q: Question 03 Suppose you sell stylish leather bags targeting young office going people who can use…
A: Given data is
Q: Question 1 One use of short-range forecasts is to determine planning for new products. (A) True (B…
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: Discussion #1 & #2
A: As per the Bartleby Honor code we are not supposed to answer more than 1 question at a time. Please…
Q: a03 a05 Period Forecast Forecast 3 10 11 12 2.
A: Here, I will conduct a simple exponential smoothing forecast for the given data set, I have…
Q: There are two general methods to forecasting:Even, what is their meaning?
A: The organization's forecasting is critical. External forces are used to forecast, and a few…
Q: Process thinking alludes to: Select one: a. Value added activities b. Careful consideration of…
A: 1- OPTION -B - Careful consideration of individual products 2-OPTION -A -Use of…
Q: Question Three: Jane is trying to forecast demand for her store, using moving average with n=2, Fill…
A: Find the given details below: Given details: Year Quarter Enrollment 1997 1 313 2 285…
Q: Question 4 Jo-Jo Inc is a manufacturing firm that produces soap. The company is owned by two…
A: Decision tree analysis is the technique represented through the graph to solve the business problem.…
Q: 1 39 44 40 4 45 38 43 7 39 a) Forecast sales using 4-week weighted moving averages with weights…
A: A) The weights of the 4 periods are respectively 0.4,0.3,0.2,0.1 and their sum is 1Calculation of 4…
Q: Q6- Answer "true" or “false" to the following statements: 1. The term compound interest refers to…
A: "Since you have posted questions with multiple sub-parts, we will solve the first three sub-parts…
Q: 4. Simple Exponential Smoothing: Use a smoothing parameter, α = 0.3. Month Ft 1 2 3 4 5 678 9 10 No.…
A: Exponential smoothing is a forecasting model which using the actual demand and forecasting f=demand…
Q: XYZ Chips Inc. (XCI) produces Centrino-type chips. The market has been inclining with ups and downs…
A: Forecasting Technique we are using here is Moving average forecasting Technique: A moving average is…
Q: Q1. What are the elements of good forecasting? Note: Write only the questions:
A: What Is Forecasting:- Forecasting is a method that utilizes chronicled information as contributions…
Q: What are the pros and cons of doing that
A: Sales forecasting refers to the process of estimation of future expected sales, based upon the…
Q: QUESTION 9 The following is the actual sales for Manama Company for a particular good: t Sales 19 23…
A: t sales x y 1 19 2 23 3 22 4 27 5 34
Q: Question: We know to predict the SSN number in the US if you were to take up a project/…
A: Aadhar card is an Indian unique identity number that contains 12 digits and information based on…
Q: 1. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August…
A: Since you have asked multiple questions, we will solve the first question with its sub-parts for…
Q: Discussion Question #2 - Present and discuss in detail the benefits and challenges of two…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: MA forecast for as many periods as possible before calculating the CFE. Group of answer choices…
A: A moving average can be stated as the statistics that grab or captures the average transformations…
Q: QUESTION # 7 A small restaurant offers tacos to their patrons. One of their specialties is the Mega…
A: Given Information: a) The forecasted demand for using a moving average with n = 3 is :
Q: Q4 ABC University wants to develop forecasts for next year's quarterly enrollment. It has collected…
A: Given data is
Q: Question one The president of State University wants to forecast student enrollments for this…
A: Ans :-a) foreeact for thouse year =1800+20000+210003…
Q: 101 Management's Forecast 122 114 a) What is the MAD for the forecast developed by management sales…
A: MAD shows the average deviations of the forecasted values in comparison to actual sales. MAPE is…
Q: 3. The weekly demand for units manufactured by the Orion Company Limited has been as follows: Week 1…
A: Formula:
Q: 2. National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period…
A: Forecasting is the process of estimating the future demand using the previous or historic data of…
Q: Sales Month (000 units) Feb. 19 Mar. 18 Apг. May 15 20 Jun. 18 Jul. 22 Aug. 20 a. Plot the monthly…
A: The known data is given below:
Q: 4. A local moving company has collected data on the number of moves they have been asked to perform…
A: THE ANSWER IS AS BELOW:
Q: Trail Questions National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a…
A: Find the Given Details below: Given Details: Month Sales ('000 Units) Feb 19 Mar 18 Apr…
Q: Question 1. The dean of a school of business is forecasting total student enrollment for this year…
A: The concept of Operation Management: Operation management is the management that applies to a…
Q: a) Using the trend-projection (regression) method, develop a forecastfor the sales of Volkswagen…
A: Note: - Since the data for the 'Volkswagen Beetles' question is not given we will answer the…
Q: QUESTION 4 Suppose the following are the seasonal indices for the first three quarters of the year…
A: The regression line equation is- y = a + bt where T(t) is the time series Coefficients Intercept…
Q: QUESTION 9 Use the table below to answer the following questions (Choose only the letter) Periods…
A: Given data- Periods Observations 1 24 2 34 3 36 4 37 5 41 6 44 7 45
Q: Forecasting is both art and science. Describe the situations where we use Qualitative forecasting…
A: Forecasting refers to the art and science of forecasting or predicting the future scenario or what…
Q: Qualitative forecasting technique. Explain the situations where we use Qualitative methods. Discuss…
A: Qualitative forecasting is a forecasting technique/method used for expert judgment, rather than…
Q: QUESTION TWO GM Motors of Lusaka produces electronic motors for power actuated values for block…
A: Years Annual sales (K'000) X Y 2007 1 1000 2008 2 1300 2009 3 1800 2010 4 2000 2011…
Q: Question DEMAND FOR FERTILIZER YEAR (1,000S OF BAGS) 1 4 2 6 3 4 4 5…
A: 1.) Given Data - YEAR Demand for fertilizer 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9…
Q: q. 15 Calculate the accuracy of your MA forecasts using MAD. What does the result tell you?…
A: Given-
Q: 20. Mercado Foundation, aims to help the pandemic front liners of education of Santa Cruz,…
A: Manufacturing is the process of converting the raw materials and resources into finished output for…
Q: irlines company approaches you to suggest ossible methods for an effective Forecast and 's…
A: Forecasting refers to making predictions regarding the future variables. It is widely used in…
QUESTION 2:
The manager of YTL Computers wants to develop next year’s quarterly forecasts of sales
revenue for its brand laptops. The sales are seasonal and the company believes that the
following most recent eight quarters of sales should be representative of next year’s
sales:
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
Show all your workings.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Under what conditions might a firm use multiple forecasting methods?The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.
- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future. a. Explain briefly whether the plot of the series visually supports the companys suspicion. b. By what percentage are sales increasing each month? c. What is the MAPE for the forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?
- The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel Agency. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b?The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?There is a bias towards under forecasting, though we cannot determine from the data provided whether that is severe bias or not O There is a severe bias towards under forecasting O Bias is negligible in this case Question 22 A MAD (Mean Absolute Deviation) of 17.3 suggests which of the following? O There is an over-forecasting bias of 17.3 O The standard deviation for the forecast data is 17.3 O All forecasts fall within 17.3 of the actual data O On average, the forecasts miss by 17.3 O Without knowing the average, the MAD is useless 0 日
- Month Demand Sept. 78 Oct. 80 Nov. 77 Dec. 85 Jan. Based on the time series data presented above, do the forecasts using 2-month moving average (2-MA) and single exponential smoothing (SES) with a = 0.4, and answer the following questions: %3D (i) What is the mean absolute deviation (MAD) for 2-MA? (ii) What is the mean absolute deviation (MAD) for SES a = 0.4 ? (iii) Based on what you got, which method is more accurate?2. What is the Mean Absolute Deviation (MAD)? 3. Use the following set of data to calculate the Mean Absolute Deviation (MAD) for the following set of data. Month Actual (At) Forecast (Ft) Forecast Error Absolute (Deviation) Forecast Eror January February 45 45 42 50 March 34 45 April May 48 40 38 45 MAD =Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniques