Purchase Solution

Forecasting Average Manufacturing

Not what you're looking for?

Ask Custom Question

The accompanying table shows average US manufacturing weekly hours over a period of 25 months.

a) Use simple exponential smoothing, with smoothing constant 0.3, to predict future values of thie series.
b) Graph the time series, together with forecasts for the next five months.
c) Use the method of Trigg and leach, with δ=0.1, to derive forecasts through simple exponential smoothing with adaptive smoothing constant.

Please see attached for table.

Attachments
Purchase this Solution

Solution Summary

The expert examines forecasting average manufacturing.

Solution Preview

a) The simple exponential smoothing (SES) model where d denotes a "smoothing constant" (a number between 0 and 1) and S(t) denotes the value of the smoothed series at period t.

S(t) = dY(t) + (1-d) S(t-1)
S = 1 ...

Purchase this Solution


Free BrainMass Quizzes
Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Business Ethics Awareness Strategy

This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.