Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Operation Management Expert

Problem:

Your manager is trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecast and specify what method you prefer and why.

MONTH

ACTUAL DEMAND

1

450

2

500

3

550

4

600

5

650

6

700

7

500

8

550

9

400

10

500

11

675

12

600

Required:

Question 1) Calculate the simple three-month moving average and Mean Absolute Deviation for periods 4-12.

Question 2) Calculate the weighted three-month moving average and Mean Absolute Deviation using weights of 0.50, 0.30, and 0.20 for periods 4-12.

Question 3) Calculate the single exponential smoothing forecast and Mean Absolute Deviation for periods 2-12 using an initial forecast (F1) of 61 and an alpha of 0.30.

Question 4) Which of the above forecasting methods do you prefer? Please explain why?

Solve the given numerical problem and illustrate step by step calculation.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M91162252

Have any Question?


Related Questions in Operation Management

1 the operational advantage that ikea derives from organic

1. The operational advantage that IKEA derives from organic expansion of its stores is/are: Preservation of its unique brand Control of its product lines Control of its prices All of the above 2. Operations management in ...

Unit iv assignment template-groupfor this assignment you

Unit IV Assignment Template-Group For this assignment, you will evaluate factors that impact the evolution of equal employment opportunity programs, and you will evaluate the performance evaluation process and techniques ...

You are the owner of exoticcookingcom an online retailer of

You are the owner of ExoticCooking.com, an online retailer of hip, exotic, and hard-to-find spices. Consider your inventory of saffron, generally worth more by weight than gold. You order saffron from an overseas supplie ...

Review this factual scenario and then 1 identify the types

Review this factual scenario and then: (1) identify the types of legal issues involved in the scenario; and (2) identify which laws, rules or regulations may be applicable to the scenario. FACTS: A hospital system which ...

Identify the four bases of market segmentation and give

Identify the four bases of Market Segmentation and give three market segmenting variables that demonstrate each of the four bases along with an example of each of the variables uses (brand or product category).  The exam ...

You will choose a local service-based organization and

You will choose a local service-based organization and suggest how it might employ a level, chase, or mixed strategy to best meet its demand. You should explain how your suggestion would enable the firm to best meet thei ...

1 discuss how organizational structure needs have changed

1. Discuss how organizational structure needs have changed in recent years? What is this in response to? 2. Why are Southeastern Grocers filing bankruptcy with some of their stores? Why do you think they are making these ...

In your discussion post discuss and analyze the functional

In your discussion post, discuss and analyze the functional strategies used by Ford Motor Corporation in its rollout of its fleet of electrified autos. Article is below. Ford Motor Company has developed global platforms ...

1 design a program that would enable you to incorporate

1. Design a program that would enable you to incorporate both the Internet and personal interviews in the recruiting process. 2. Describe audit procedures for the production, acquisition, and expenditure cycles. 3. Assum ...

The jonas brothers are looking for new markets for four

The Jonas brothers are looking for new markets for four major reasons: the increased safety regulations in the US, increased competition, high insurance costs to cover legal risks for owners, and children’s safety groups ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As