Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

The manager of Carpet City outlet needs to make an accurate forecast of demand for Soft Shag carpet (its biggest seller). If the manager doesn't order enough carpet from the carpet mill, customers will purchase their carpet from one of Carpet City's many competitors. The manager has col­lected the following demand data for past 8 months: 

 

Month

Demand for Soft Shag Carpet (1,000 yd.)

1

8

2

12

3

7

4

9

5

15

6

11

7

10

8

12

 

a. Evaluate a weighted 3-month moving average forecast for months 4 through 9. Assign weights of .55, .33, and .12 to the months in sequence, starting with most recent month.

 

b. Compare the two forecasts by using MADWhich forecast appears to be more accurate?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M923460

Have any Question? 


Related Questions in Statistics and Probability

For each of these questions you must provide a diagram

For each of these questions you must provide a diagram indicating the area or the percentile of the relevant distribution for the question. These diagrams can be drawn and photographed with the picture file pasted in the ...

Madison has just burnt 15 songs onto a music mix cd 5 are

Madison has just burnt 15 songs onto a music mix CD, 5 are country, 5 are pop, and 5 are Disney songs. If she is interested in randomly listening to 3 songs, how many different combinations of songs can she listen to if ...

A set of nnbsp random variablesnbspx1 x2 x3xn are

A set of n  random variables X 1 , X 2 , X 3 ,....,X n , are independent and each uniformly distributed over  (a) Find the probability density function of  (b) With defined as in part (a) above, let   and find   That is, ...

A certain light bulb manufacturer makes two types of bulbs

A certain light bulb manufacturer makes two types of bulbs, a low-cost short-life (Stype) bulb and a more expensive long-life (L-type) bulb. The two types of bulbs look identical and so the company must be sure to carefu ...

Correlation is used to determine the strength of a

Correlation is used to determine the strength of a relationship between two variables. What kind of variables? Quantitative ones. The result of a correlation will be a number ranging between -1 and 1. Define how we inter ...

I deal myself 3 cards from a standard 52-card deck find the

I deal myself 3 cards from a standard 52-card deck. Find the probabilities of each of the following events: (a) 2 of a kind (e.g., 2 fives or 2 kings); (b) 3 of a kind; (c) 3 of the same suit (a.k.a a flush, e.g., 3 hear ...

Quizmultiple-choice choose exactly one answer for each

Quiz: Multiple-Choice: Choose exactly ONE answer for each question. 1. A few of the variables for which data were collected in a certain study include age, gender, income, and number of hours spent shopping online per mo ...

In a certain communication system bits are encoded into

In a certain communication system, bits are encoded into blocks of length 128 bits. Error correction techniques are used such that the block will be decoded correctly as long as no more than 7 of the 128 bits are receive ...

Prove that all odd central moments of a gaussian random

Prove that all odd central moments of a Gaussian random variable are equal to zero. Furthermore, develop an expression for all even central moments of a Gaussian random variable.

A manufacturer of soap wishes to know if customers have a

A manufacturer of soap wishes to know if customers have a preference for a bath soap fragrances. To answer their question, a random sample of 200 adult shoppers is offered a free bar of soap .The recipients may choose fr ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate