Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 112 February 132 March 148 April 170 May 164 June 176 July 136 August 138 September 142 a. Forecast April through September using a three-month moving average. (Round your answers to 2 decimal places.) Month Three-Month Moving Average April May June July August September b. Use simple exponential smoothing with an alpha of 0.30 to estimate April through September, using the average of January through March as the initial forecast for April. (Round your answers to 2 decimal places.) Month Exponential Smoothing April May June July August September c-1. Calculate MAD for each method. (Round your answers to 2 decimal places.) MAD Three-month moving average Exponential smoothing
Added by Teresa J.
Step 1
67 - May: (132 + 148 + 170) / 3 = 150.00 - June: (148 + 170 + 164) / 3 = 160.67 - July: (170 + 164 + 176) / 3 = 170.00 - August: (164 + 176 + 136) / 3 = 158.67 - September: (176 + 136 + 138) / 3 = 150.00 Show more…
Show all steps
Close
Your feedback will help us improve your experience
Ameer Said and 56 other Intro Stats / AP Statistics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
nine-month period (January tabulated demands for an item for = forecasting Here are the actual to test two moving average September) Your supervisor wants through was better over this period. methods to see which one Month Actual Jan 120 Feb 140 March 160 April 180 May 190 June 210 July 170 August 190 September 220 Forecast April through September using three-month moving average and calculate MAD for the forecasts Forecast May through September using four-month moving average and calculate MAD for the forecasts
Adi S.
Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 16,416 16,566 15,355 17,420 19,063 17,240 19,138 18,501 20,290 Step 1 of 4: Determine the three-period moving average for the next time period. If necessary, round your answer to one decimal place. Step 2 of 4: Determine the three-period weighted moving average for the next time period with weights of 3 (most recent), 2 (second latest time period), and 1 (oldest time period). If necessary, round your answer to one decimal place. Step 3 of 4: Determine the exponential smoothing forecast for the next time period using a smoothing constant of 0.30. If necessary, round your answer to one decimal place. Step 4 of 4: Which forecasting method is best and why?
Rashmi S.
Monthly Temperatures in Charleston The monthly normal mean temperatures for the last 30 years in Charleston, SC, are shown in Table $4.3 .$ A scatter plot suggests that the mean monthly temperatures follow a sinusoidal curve over time. Assume that the sinusoid has equation $y=a \sin (b(t-h))+k$ (a) Given that the period is 12 months, find $b$ . (b) Assuming that the high and low temperatures in the table determine the range of the sinusoid, find $a$ and $k$ (e) Find a value of $h$ that will put the minimum at $t=1$ and the maximum at $t=7$ . (d) Superimpose a graph of your sinusoid on a scatter plot of the data. How good is the fit? (e) Use your sinusoidal model to predict dates in the year when the mean temperature in Charleston will be $70^{\circ} .$ (Assume that $t=0$ represents January $1 . )$
Trigonometric Functions
Solving Problems with Trigonometry
Recommended Textbooks
Elementary Statistics a Step by Step Approach
The Practice of Statistics for AP
Introductory Statistics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD