1. You must show all steps including formulas used and all calculations done to arrive at the final answers. Incomplete solutions will receive partial credit.
2. Use at least four significant digits at all intermediate steps. Round off the final answers appropriately. Note: 0.0042 is only two significant digits as leading zeros are not considered significant. 0.004200 is four significant digits as trailing zeros are considered significant.
3. Use the rules of rounding correctly at all steps including the final answers. Note: 0.12340 through 0.12344 are rounded down to 0.1234, whereas 0.12345 through 0.12349 are rounded up to 0.1235.
The Italian General's Pizza Parlour is a small restaurant catering to patrons with a taste for European pizza. One of its specialties is Italian Prize pizza. The manager must forecast weekly demand for these special pizzas so that he can order pizza shells weekly. Recently, the demand has been as follows: (Please see the attachment for charts and further details.)© BrainMass Inc. brainmass.com October 17, 2018, 4:34 am ad1c9bdddf
The solution provides detailed explanation how to perform weighed and smooth forecast.
Evaluate Trendless Data; Forecasts to Improve Communciation
1. How can trendless data be evaluated?
How does a trailing-moving average compare to a centered-moving average?
When should exponential smoothing be used for data? Explain with an example.
In exponential smoothing, what type of smoothing constant should be chosen for little smoothing compared with moderate smoothing?
Justify your answers using examples and reasoning.
2. How can forecasts improve communication in an organization?
Why do forecasts typically go wrong?
What can a researcher do to increase the chances that a forecast will be effective?
Are more complicated forecasting models, such as autoregressive integrated moving average (ARIMA) and autoregressive (AR), typically better at forecasting than less complicated models? Explain.
Justify your answers using examples and reasoning.View Full Posting Details