Please do not give solution in image format thanku QUESTION 38Monthly income, in thousands of dollars ($K), at the Acme Law Firm for the six-month period from October to March is listed in the table below.monthincome, $KOct69.3Nov68.6Dec69.4Jan71.7Feb72.3Mar74.8Using the data in the table, what is the naive forecast of monthly income for April? (Round to two [2] decimal places.)O $74.80KO $72.93KO $73.55KO $75.11KO $70.28KQUESTION 39Using the data in the table for part 38, what is the simple 3-month simple moving average forecast for monthly income for April? (Round to two [2] decimal places.)O $74.80KO $72.93KO $73.55KO $75.11KO $70.28KQUESTION In

Here, for each month, I have been given the income data, I would apply a naive forecasting technique…

Answered: Using the data in the table, what is…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 56P

See similar textbooks

Similar questions

Under what conditions might a firm use multiple forecasting methods?
QUESTIONS: Quarterly demand for a washing machine is as shown. 1. After obtaining initial estimates for level, trend, and seasonal factors. forecast the demand for the first quarter of year III using Winter's model with a 6- - 0,25 where x is the last two digits of your student number. 2. Make a tracking signal analysis for the forecast and evaluate Maks Year I II Quarter 1 2 3 4 1 2 3 4 Demand 1900 1224 4000 5600 4800 1048 6200 8000
QUESTION 2:The manager of YTL Computers wants to develop next year’s quarterly forecasts of salesrevenue for its brand laptops. The sales are seasonal and the company believes that thefollowing most recent eight quarters of sales should be representative of next year’ssales: 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 forecast of next year’s quarterly sales revenue for this line of laptops.Show all your workings.
Question content area Part 1 Sales of Volkswagen's popular Beetle have grown steadily at auto dealerships in Nevada during the past 5 years (see table below). Year Sales 1 450 2 510 3 516 4 555 5 575 Part 2 a) Forecasted sales for year 6 using the trend projection (linear regression) method are enter your response here sales (round your response to one decimal place). Part 3 b) The MAD for a linear regression forecast is enter your response here sales (round your response to one decimal place). Part 4 c) The MSE for the linear regression forecast is enter your response here sales (round your response to one decimal place).
Part C Exponential Exponential Gasoline Demand Gasoline Month smoothed forecast smoothed forecast Exponential smoothed forecast (a = 0.25) Demand (a = 0.25) (a = 0.45) Exponential smoothed forecast (a = 0.45) Mar 900 920 920 1200 Apr May 755 915.00 911.00 1100 1000 650 875.00 840.80 g20 915.00 846 80 755 818.75 754.94 904.76 835.12 Jun 550 818.75 754.94 800 320 751.56 66272 645.74 746.83 Jul 625 751.56 662.72 650 600 550 Aug Sep 730 719.92 645.74 820 722.44 683.66 400 D Oct 1100 746.83 745.01 200 1 Nov 835.12 904.76 Mar Apr May Jun Jul Aug Sep Oct Nov 1. Make a comparative analysis out of your answers in the plotted data. (3-5 5 sentences)
Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniques
V. Let's Explore / Let's Create 1. Discuss the other types of forecasting methods that financial analysts use to predict future revenues. 2. Are there any several other factors that may need to be considered that affects the sales forecast? RUBRIC Criteria Poor (3 Points) Fair (7 Points) Fair Good (10 Points) Good Deer
Question 3: Jane is trying to forecast demand for her store, using moving average with n=2, Fill in the missing cells with correct values and find average error for first quarter and second quarter of year 2000 E Enroll- Year Quarter ment Forecast Error Abs Error 1997 313 3. 2 285 4 3 312 5. 4 339 6. 1998 1 359 7 320 356 385 6. 10 1999 396 367 11 397 12 423 13 14 2000 1 15 2000 3412M4
q1(a)Imagine that you need to introduce a new gadget such as the Apple Watch. Determine which forecasting method is appropriate for projecting the future demand of such this gadget. b)ARIMA is mostly used to forecast future values using historical time series data, as we all know. Its primary use is in short-term forecasting with at least 38-40 historical data points and a small number of outliers. If we don't have at least 38 data points, we should consider using another strategy.
Question 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…
QUESTION 2 The number of patients coming to the Healthy Start Maternity clinic has been increasing steadilyover the past eight months. You are provided with some historical data as follows: Month Clinic attendance (in thousands)1 3.42 3.93 4.54 5.05 5.86 5.97 6.58 6.7 a. Identify and give a brief explanation of the:-i. Dependent variableii. Independent variable b. Use simple linear regression to forecast annual demand for months 9 and 10 by using thetabular method to:-i. Derive the values for the intercept and slope. ii. Derive the linear regression equation. iii. Plot the linear regression line. iv. Develop a forecast of the clinic attendance for months 9 and 10.
Question 03 Suppose you sell stylish leather bags targeting young office going people who can use your bags to carry laptops and necessary stuff. You have already launched leather bags in February of this year and now based on the demand results of last 7 months, you want to predict the demand for your bags for the month of September. Hence, you want to select the right forecasting techniques and you are considering 2 period Moving Average, Naive technique and Exponential Smoothing (use any value between .10 - .15 as the value of alpha). Now figure out the better forecasting technique among 2 period Moving Average, Naive technique and Exponential Smoothing by doing the error calculation with the help of MAD, MSE, MAPE. Period Demand 2period Moving Average (Demand forecast) Naive technique (Demand forecast) Exponential Smoothing (Demand forecast) February 70 75 ** ** March 74 78 ** ** April 80 ** ** ** May 88 ** ** ** June…

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Contemporary Marketing

Marketing

ISBN:

9780357033777

Author:

Louis E. Boone, David L. Kurtz

Publisher:

Cengage Learning

Marketing

ISBN:

9780357033791

Author:

Pride, William M

Publisher:

South Western Educational Publishing

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Contemporary Marketing

Marketing

ISBN:

9780357033777

Author:

Louis E. Boone, David L. Kurtz

Publisher:

Cengage Learning

Marketing

ISBN:

9780357033791

Author:

Pride, William M

Publisher:

South Western Educational Publishing

SEE MORE TEXTBOOKS