Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table:                          Maroon 5 Tv Appearances        3 4 7 6 8 5                            Demand for Guitars                  3  6  7  5  10  7    b) Using the least-squares regression method, the equation for forecasting is (round your response to four decimal places):        Y= _____+_____X C) The estimate for guitar sales if Maroon 5 performed on Tv 9 times =___ (round your response to 2 decimal places

Q: Ed Rogers owns an appliance store. Sales data on a particular model of a DVD player for the past six…

A: Absolute Error =  | Actual sales - Forecast | MAD = Average of Absolute Error

Q: Hair dryers have sold 100, 110, 120, and 130 units at Walgreens stores in Youngstown, Ohio, during…

A: a) 3-month moving average:    =110 + 120 + 1303= 120 Dryers.

Q: Demand for oil changes at Garcia’s Garage has been as follows:Month                  Number of Oil…

A: The following dialogue box will appear. Enter the data and click on OK.

Q: Given forecast errors of 4, 8, and −3, what is the mean absolute deviation (MAD) and mean square…

A: Forecast errors = 4,8 and -3 Absolute errors = 4, 8 and 3

Q: b. Use the least-squares regression method to derive a forecasting equation. c. What is your…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are…

A:

Q: State University administrators believe their freshman applica-tions are influenced by two…

A: Forecasting is a technique used to predict future outcomes on the basis of past data. In business…

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

A: Given data,  Year  Sales  1 455 2 510 3 518 4 570 5 590

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

A:

Q: For the past 10 quarters, House Depot, Inc. has generated sales data for 2x2 (in board feet) and the…

A: Linear regression is a forecasting model which identify the forecasting value based on the…

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

A: When α=0.30 Period Sales Forecasted Sales Actual - Forecast 2005 455 415 40 2006 510 427 83…

Q: Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten…

A: Simple Linear Regression Y = a + b*X a = Intercept b = Slope X = Independent Variable (Year )

Q: The president of the Southern University wants to forecast student enrolments for this academic year…

A: Given data

Q: A police station had to deploy a police officer for an emergency multiple times in the last four…

A: F(t) = F(t-1) + (Alpha * (A(t-1) - F(t-1))) Where F(t-1) is the forecast for the previous period and…

Q: Period 1 2 3 4 6. 7 8 9 10 11 12 Sales 568 604 645 742 661 606 749 680 704 736 660 756

A:

Q: The number of heart surgeries performed at Heartville General Hospital has increased steadily over…

A: Note: - As we can answer only up to three subparts we will answer the first three subparts(1, 2, and…

Q: The manager of the Salem police department motor poolwants to develop a forecast model for annual…

A: a) The regression equation can be determined using excel as follows: Step 1: Put the data onto the…

Q: Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last…

A: Find the Given details below: Given details: Month Price Per Chip ($) January 1.90 February…

Q: The Polish General’s Pizza Parlor is a small restaurant catering to patrons with a taste for…

A: a) (56+55+60)/3 = 57 0.50*60 + 0.30*55 + 0.20*56 = 57.7

Q: The manager of a travel agency has been using a seasonally adjusted forecast to predict demand for…

A: MAD

Q: A diary product manufacturing company uses simple exponential smoothing with trend to forecast…

A: Given data is Alpha = 0.15 Beta = 0.20

Q: Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the…

A: Linear Regression       Assume X = Price     Y = Number sold            X  Y XY X2 2.50…

Q: The following gives the number of accidents that occurred on Florida State Highway 101 during the…

A: Find the given details below: Given details Month Number of Accidents Jan 25 Feb 45 Mar…

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

A:

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: The following gives the number of accidents that occured on Florida State Highway 101 during the…

A: Given data is

Q: All forecasting methods using exponential smoothing, adaptive smoothing, and exponential smoothing…

A: Forecasting is the process of making assumptions of the future on the basis of past and present…

Q: Lori Cook has developed the following forecasting model: y = 40.0 + 4.20x, where y = demand for Kool…

A: Y = 40 + 4.20x Where, Y = Demand for Air Conditioners X = Outside temperature

Q: Number of Accidents 25 45 64 95 Using the least-squares regression method, the trend equation for…

A: NOTE: We are allowed to do only one question at a time.  The regression equation is of the form:…

Q: Ordinary least squares technique or linear regression analysis

A: THE ANSWER IS AS BELOW:

Q: Sales of Volkswagens have grown steadily at auto dealerships in Nevada during the past 5 years (see…

A: Given data is

Q: The manager of a travel agency has been using a seasonally adjusted forecast to predict demand for…

A: Mean absolute deviation determines the prediction's accuracy by averaging the specified inaccuracy…

Q: The dean of a school of business is forecasting total student enrollment for this year's summer…

A: SIMPLE MOVING AVERAGE: A simple moving average always calculates the average of a selected range of…

Q: Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten…

A: A simple moving average (SMA) measures the average of a chosen range of values, normally closing…

Q: Use the data below to solve for the following: Naïve method Unweighted 3 month moving average…

A: Note: - Since we can answer up to three subparts only, we will answer the first three subparts(first…

Q: A police station had to deploy a police officer for an emergency multiple times in the last four…

A: A moving average is a method for determining the overall trends in a data collection by taking the…

Q: Consider the following forecasting model: x^t,t+1=axt+(1-a)x^t-1,t If a decreases from 0.5 to 0.2,…

A: The given question is about exponential smoothing.

Q: Make the forecast using the following techniques for the first six months of 2021: 3-month moving…

A: Forecasting refers to the process of making predictions for the future using past and present data.…

Q: he Yummy Ice Cream Company projects the demand for ice cream by using first-order exponential…

A: 1.

Q: Sales of Bluetooth Headphones at the Abdulla Electronics Enterprises in Model Town, India, over the…

A: Since you have asked multiple questions, we will solve the first three questions for you (1.a, 2.b,…

Q: A company sells wielding generators. The demand for periods 1 to 9 is 44,52,50,,54,55,55,60, 56 and…

A: THE ANSWER IS AS FOLLOWS:

Q: A restaurant wants to forecast its weekly sales.  Historical data (in dollars) for 15 weeks are…

A: Forecasting refers to the statistical technique used for predicting the future demand and sales of…

Q: The Dean of a faculty wants to forecast student enrolments for this academic year based on the…

A: Answer: For solving the question, we have these following information. 5 years ago the enrolment…

Q: The following table gives the number of pints of type A blood used at Damascus Hospital in the past…

A: Given data is

Q: As you can see in the following​ table, demand for heart transplant surgery at Washington General…

A: The concept used here is forecasting with the Exponential Smoothening method.

Q: Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the…

A: Given data:  X  Y 2.60 770 3.60 505 2.00 975 4.20 250 3.10 315 4.00 490 19.50 3305

Q: Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last…

A:

Q: A chain of pizza stores has had the following sales for take-out food over the last four…

A: Friday forecast using Exponential smoothing with Alpha = 0.20:…

Q: Eurotronics manufactures components for use in small electronic products such as computers, CD…

A: The linear regression forecast is used here because no other data is available. One can also use a…

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

A:

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.