Cinema HD an online movie streaming service that offers a wide variety of award-winning TV shows, movies, animes, and documentaries, would like to determine the mathematical trend of memberships in order to project future needs. Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 Membership 17 16 16 21 20 20 23 25 24   a. What are the issues associated with qualitative forecasting, and how are these overcome? b.Provide an example of qualitative forecasting and explain the shortcomings.

Q: A. The Naive Approach B. Three month moving average C.A weighted moving average using 0.60 for the…

A: Forecasting techniques are used to predict future events. Forecasting is the process of estimating…

Q: Movieflix, an online movie streaming service that offers a wide variety of award-winning TV shows,…

A: Qualitative forecasting is a methodology in forecasting which primarily focuses on the judgement,…

Q: The Pro Apparel company manufactures baseball-stylecaps with various team logos. The caps come in an…

A: Forecasting is a tool to recognize problems and opportunities in the business and turning it into…

Q: Below is a table containing data on product demand for the most recent five months along with the…

A: Forecast by using 3 period simple moving average method-

Q: b) The forecast for the next month (Jan) using the naive method = sales (round your response to a…

A: Below is the solution:-

Q: (a) Compute four-week and five-week moving averages for the time series. 4-Week 5-Week Moving…

A: (a) (b)

Q: What are the benefits of exponential smoothing over moving average forecasting?

A: The following are the advantages of exponential smoothing over moving averages as a forecasting…

Q: Daily high temperatures in St. Louis for the lastweek were as follows: 93, 94, 93, 95, 96, 88, 90…

A: Since you have asked multiple questions, we will solve first question for you (a, b and c). If you…

Q: The number of internal disk drives (in millions) made at a plant in Taiwan during the past 5 years…

A: Find the Given details below: Given Details: Year Disk Drives 1 138 2 156 3 184 4 202…

Q: Forecasting Food and Beverage Sales The Vintage Restaurant, on Captiva Island, near Fort Myers,…

A: Given Data,  Month  1st year  2nd Year  3rd year January  242 263 282 February  235 238 255…

Q: Forecasted Year Sales Sales 2005 455 415.00 2006 510 427.00 2007 516 451.90 2008 570 471.13 2009 585…

A: Given that: Smoothing constant = 0.6 Starting Forecast = 415 and Year Sales 2005 455 2006 510…

Q: An operations manager at a grocery store has tracked the sales of a specific item over the last ten…

A: Given Data- Period Demand 1 24 2 23 3 26 4 36 5 26 6 30 7 32 8 26 9 25 10 28

Q: Zeus Computer Chips Inc. used to have major contracts to produce the Centrino-type chips. The market…

A:

Q: Khyber Teaching Hospital is considering the purchase of a new ambulance. The decision will rest…

A: Given that: Year Mileage 1 4000 2 5000 3 4400 4 4800 5 4700

Q: Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for…

A: Find the given details below: Given details: Week Actual Passenger Miles(in 1000) 1 17 2 21…

Q: Forecasting Forecasting is important relative to capacity requirements planning. What are some of…

A: Qualitative data forecasting techniques mainly describes the characteristics and qualities of the…

Q: What forecasting approaches do you know? How is this being applied in your work? Or from your past…

A: Forecasting is an important tool that helps managers in effective and efficient planning. However,…

Q: Clinic administrator Marc Schniederjans wants you to forecastpatient demand at the clinic for week 7…

A: Weighted moving average=∑Weight for period nDemand for period…

Q: Sales of​ Volkswagen's popular Beetle have grown steadily at auto dealerships in Nevada during the…

A: Given table- Year Sales 1 450 2 502 3 520 4 570 5 575

Q: d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your…

A: MAPE: MAPE stands for the mean absolute percentage error. It is one of the methods used to measure…

Q: Forecasting plays an important role in the operations of modern management. In fact, operational…

A: Forecasting is a prediction method that can use historical data and current market trends and…

Q: Several business periodicals often carry reports of companies that may not have met their sales and…

A: Periodicals are a category of serial publications with a series of articles. They are published…

Q: Sales of quilt covers at Bud Banis' department store in Carbondale over the past year are shown…

A: Exponential smoothing is nothing but the time series predicting approach for univariate information…

Q: Dave's Bar-B-Q operated a moble kitchen that serviced construction sites, office buildings, and…

A: From the given data, Let F3 = forecast value for third week of june       Y2= 6        F2=4.7…

Q: 4 .Substitute for Problem # 4 on in attachment)-Calculate the MAD,revised MAD and the Revised…

A: Given data is The revised forecast using the Naive method and revised MAD is shown below. As the…

Q: A retail store records customer demand during each sales period. The data has been collected in the…

A: given,

Q: Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for…

A: Given-

Q: 1. Compute the exponentially smoothed forecast of calls for each week. Assume an initial forecast of…

A: THE ANSWER IS AS BELOW:

Q: Movieflix, an online movie streaming service that offers a wide variety of award-winning TV shows,…

A: Find the Given details below: Given details: Year Membership (000s) 2013 17 2014 16 2015…

Q: constants of .6 and .9, develop fo recasts for the sales of VWBeetles. What effect did the smoothing…

A: Note: - Since the data for the 'Volkswagen Beetles' question is not given we will answer the…

Q: Clinic administrator Marc Schniederjans wants you to forecast patient demand at the clinic for week…

A: Below is the solution:-

Q: A​ time-series trend equation is 25.3​ + 21x. What is your forecast for period​ 7?     A. 32.3   B.…

A: Forecasting is the process in which future demand is determined by estimation using previous data or…

Q: 4.  A major bank is considering installing ATMs at all locations of a grocery store chain. What…

A: Inventory management is a tool used to sourcing and distributing both raw materials and finished…

Q: . What is the mean square error for time periods 2 through 4 using the average forecasting method?…

A: I am using the 2 periods simple moving average method to find average forecasts. It is the average…

Q: Imagine you work for a breakfast cereal company that makes prepared products that are served cold.…

A: Here we have to know the specific interest of the customers .This can be conceivable by the interest…

Q: State the Common features that describe principles of forecasting. The lost Paradise of Dilmun Park…

A: (1) Principles of forecasting states that  any forecasting technique that is being used must be such…

Q: Interpret the MAD of the most accurate among the forecasting models below. A. Naïve approach; B.…

A: Find the Given details below: Given Details: Month Demand (100 Liters) 1 39 2 47 3 39 4…

Q: The following monthly sales (in thousands of AUS dollars) of chocolate boxes have been recorded for…

A: Forecasting is a method of foretelling the future based on the outcomes of earlier data. It includes…

Q: implement to improve their fo

A: When it comes to Tesla's financial expectations, CEO Elon Musk has a history of overpromising and…

Q: Let's say you are playing the stock market and below period 2020 data was provided. For "stock A"…

A: The answer is as below

Q: Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for…

A:

Q: Explain and give an example of a weighted average in forecasting

A: A Weighted Moving Average puts more weight on late information and less on past information. This is…

Q: Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for…

A:

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.