Compute the forecast using trend model

Assignment Help Operation Management

Reference no: EM132222483

Given the following table of prices over the past 12 month, answer the questions that follow.

Week (X) Price Jan-16 3.5 Feb-16 3.7 Mar-16 4 Apr-16 4.2 May-16 4.3 Jun-16 4.34 Jul-16 4.36 Aug-16 4.4 Sep-16 4.44 Oct-16 4.38 Nov-16 4.4 Dec-16 5.5

a. Use a 2-month moving average on all the data.

b. Use a 3-month weighted moving average. Use weight of 5 for most recent period, and 2 for each subsequent period.

c. Compute forecastsfor each month using exponentialsmoothing, with an initial January forecast = 3.50. Use α = 0.3 and α = 0.6.

d. Compute the forecast using TREND (Regression) model.

e. Using MAD for all models, which yields a more accurate forecast?

Reference no: EM132222483

Questions Cloud

Streamlined power and accountability initiative : What strategy was Peter Loscher trying to get Siemens to pursue with his streamlined “power and accountability” initiative?

What is the labor productivity : What is the labor productivity? What is the multifactor (MFP) productivity?

Identification of the leadership and communication issues : MAN-376 - LEADERSHIP COMMUNICATION - Thomas edison state university - Identification of the leadership and communication issues in the situation

The relationship between top executies and shareholders : Why is the relationship between Top Executies and the Shareholders are so important?

Compute the forecast using trend model : Compute the forecast using TREND (Regression) model.

You take into consideration when forecasting demand : What are some of the factors would you take into consideration when forecasting demand?

Determine the average daily gain-feed conversion : Determine the average daily gain, feed conversion, feed only cost of gain, breakeven cost per pound, and feeding margin for this group of lambs.

Is hiring employee with criminal past good strategy : Is hiring an employee with a criminal past a good strategy? Why

Explain how the more technology is adopted : Explain how the more technology is adopted, the better it becomes. This week we cover Corporate Social Responsibility (CSR).

User Account

All Pages