Alex is a street vendor selling t-shirts in new york city, Ask an Expert

Management Studies

Alex is a street vendor selling T-shirts in New York City. His sales in past ten weeks are listed as below. Weeks Sales (1, 33) (2, 31) (3, 31) (4, 37) (5, 40) (6, 33) (7, 50) (8, 45) (9, 55) (10, 60)

(1) Alex wants to prepare for future sales. Please make forecast, based on historical data, for sales in week 11 and 12, using the following methods: moving average (3), moving average (4), moving average (5), exponential smoothing (0.1), exponential smoothing (0.4), exponential smoothing (0.8). Compare “the mean absolution deviation (MAD)” and “Forecast error” among these methods.

(2) Please make forecast using the simple linear regression. What is the model? Is the model valid (residual analysis)? What is the significance of the regression model (R2, p-value of the slope)?

(3) Compare the smoothing methods with the regression. Which method would you recommend? Why?

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93095784

Have any Question?Write your Review or question?

Related Questions in Operation Management

1 employees have a right to privacy but employers also have

1. Employees have a right to privacy, but employers also have a right to create and maintain an efficient and safe workplace. Do you think that existing laws strike an appropriate balance between employers' rights and em ...

Ray caldwell is the human resource manager of a management

Ray Caldwell is the human resource manager of a management consulting firm. The consultants in the company are mostly white males and are a cohesive group. Very few conflicts exist between them and decisions are made qui ...

1 how an organisation to rise to become an employer of

1. How an organisation to rise to become an employer of choice? 2. Culture changes or Improvement initiative needed in an organisation with reference to a successful case study?

1 discuss the concept of generational differences in the

1. Discuss the concept of Generational Differences in the workplace today. Identify the various generations currently working today and the issues that arise as a result. 2. Would a firm want to subscribe to a shared cos ...

1 what do you think the future of international media

1. What do you think the future of international media holds? 2. List alternative means to securing rights to real property. Contrast how rights to personal property are secured transferred and taxed. 3. Describe how and ...

Pete owns six automobiles a ford a buick a chrysler a dodge

Pete owns six automobiles, a Ford, a Buick, a Chrysler, a Dodge, a Pontiac, and a Toyota, which he keeps in his garage which is attached to his house. Dave, Pete’s friend, asked Pete if he can borrow the Ford to take his ...

A janitorial supply superstore buys 214 of their most

A janitorial supply superstore buys 214 of their most popular cleaning liquid each week for $11 each. Average cost of ordering and receiving a shipment is $6 per order. Holding cost is 1% of the price per month. The supp ...

1 what part of the decision making process is yelp involved

1. What part of the decision making process is Yelp involved in? Do you use Yelp? If you do, do you find the reviews helpful. If not, after watching this video will you be using Yelp? 2. How does Dropbox and Google Drive ...

New wave music is an international company that develops

New Wave Music is an international company that develops music software that is used to compose music, play recordings in clubs, and produce albums. Founder and CEO Moritz Halbach is the company’s biggest fan. He said “I ...

1 compare and contrast the ms-drg and apr-drg systems what

1. Compare and contrast the MS-DRG and APR-DRG systems. What inferences can you draw from the information you uncovered on these two payment systems in the context of paying for performance? 2. Compare the amazon, eBay, ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert