Purchase Solution

Forecast

Not what you're looking for?

Ask Custom Question

Please see attached files for data.

1. Develop a four month moving average forecast for Wallace garden supply and compute the MAD.

2. Data collected on the yearly demand for 50 pound bags of fertilizer at Wallace Garden Supply are shown in the following table. Develop a three year moving average to forecast sales. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other two years are each given a weight of 1. Which method do you think is best?

3. Sales of cool man air conditioners have grown steadily during the past five years. The sales manager had predicted, before the business started, that year 1's sales would be 410 air conditioners. Using exponential smoothing with a weight of α =0.30, develop forecasts for years 2 through 6.

Attachments
Purchase this Solution
Solution Summary

This solution is comprised of detailed step-by-step calculation of the given problem in EXCEL and provides students with a clear perspective of the underlying concepts.

Solution provided by:
Anwesha Ghosh, MSc
Education
  • MSc, Osmania University
  • MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
  • BSc, Banaras Hindu University
Recent Feedback
  • "Very fast turnaround. Excellent communication! Much appreciated!"
  • "excellent"
  • "excellent"
  • "excellent work"
  • "Fantastic..great solution and very well explained!!!!"
Purchase this Solution
Free BrainMass Quizzes
Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

View More Free Quizzes
Related BrainMass Solutions

  • Moving Average Forecast and Cumulative Error

    This solution is comprised of detailed step-by-step calculations and explanation of various Forecast Techniques like Moving Average Forecast and Weighted Moving Average Forecast and Forecast Accuracy Measures like Forecast Error and Cumulative Error in

  • Time Series

    Thus, a 3-period forecast is more accurate than a 2-period forecast.

  • Time Series Data

    Thus, a 3-period forecast is more accurate than a 2-period forecast.

  • Exponential smoothing forecast

    line forecast.  

  • Forecast Accuracy Measure

    The business has developed an exponential smoothing forecast model to forecast future computer demand.

  • Excel: exponential smoothing forecast

    Plot your new forecast on a graph with the actual data and the naive forecast. Based on a visual inspection, which forecast is better?

  • Exponentially Smoothed Forecast

    This solution is comprised of detailed step-by-step calculations and explanation of various Forecast Techniques like Exponentially Smoothed Forecast, Adjusted Exponentially Smoothed Forecast etc. and various Forecast Accuracy Measures like Forecast Error

  • Forecast monthly demand for products

    F(t) = Forecast(t-1) + alpha(A(t-1) - F(t-1)) Forecast for August = Forecast(July) + 0.2*(Actual(July) - Forecast(July)) = 50 + .2*(55-50) = 51 Forecast for September = Forecast(August

  • Operating Budget and Sales Forecast

    the sales forecast is prepared.

  • Average Forecast Error

    212195 Average Forecast Error I am having a hard time calculating the average forecast error for september using a four period moving average.

View More Related Solutions