Calculate the bias and mad for each set of forecasts

Assignment Help Operation Management

Reference no: EM13896973

1. Assume you are forecasting with an exponential smoothing model using a 5 0.6. How much weight is placed on the most recent actual demand? How much weight is given to the demand one time period older than the most recent data? How much weight is given to data from two periods in the past?

2. Given the series of demand data below

Period:	1	2	3	4	5	6	7	8	9	10
Demand:	40	33	56	43	23	45	38	40	29	40

a. Calculate the forecasts for periods 7 through 11 using moving average models with n 5 2, n 5 4, and n 5 6.

b. Calculate the bias and MAD for each set of forecasts. Which moving average model is best?

Reference no: EM13896973

Questions Cloud

Create a compelling future : Some principles of the Grass Roots Model include the acronym CLIMB: Create a compelling future; Let the customer drive the organization; Involve every mind; Manage work horizontally, and Build personal credibility

Effective management of resources is a key contributor : Effective management of resources is a key contributor to the success of an organization

Differences between leaders and managers : You are discussing some significant differences when it comes to managers vs. leaders, Skye. Anytime I think of leadership and the differences between leaders and managers I always think of General Douglas MacArthur's principles of leadership

What would be the forecast for the next period : If last period's forecast was 27 and the demand was 30, what was the forecast error? What would be the forecast for the next period using an exponential smoothing model with alpha 5 .5?

Calculate the bias and mad for each set of forecasts : Calculate the forecasts for periods 7 through 11 using moving average models with n 5 2, n 5 4, and n 5 6. Calculate the bias and MAD for each set of forecasts. Which moving average model is best?

How does the quality of the physicians documentation : How does the quality of the physician's documentation in the medical record ensure quality as opposed to fraud and abuse in coding? Provide an example.

Quality of the physicians documentation in medical record : How does the quality of the physician's documentation in the medical record ensure quality as opposed to fraud and abuse in coding? Provide an example.

Describe any additional training : Describe any additional training

What type of information and forms are required : If a client who has been denied SSA benefits, hires an attorney, what is the process that follows, what type of information and forms are required?

User Account

All Pages