Using exponential smoothing with a smoothing constant

Assignment Help Basic Statistics

Reference no: EM131104938

Three years ago, the admissions office for Ivy College began using exponential smoothing with a smoothing constant of 0.25 to forecast the number of applications for admission each year. Based on previous experience, this process was begun with an initial estimate of 5,000 applications. The actual number of applications then turned out to be 4,600 in the first year. Thanks to new favorable ratings in national surveys, this number grew to 5,300 in the second year and 6,000 last year. (Use hand calculations below rather than an Excel template)

(a) Determine the forecasts that were made for each of the past three years.

(b) Calculate MAD for these three years.

(d) Determine the forecast for next year.

Reference no: EM131104938

Questions Cloud

Check the stability of the resulting design : Check the stability of the resulting design using CAD modeling over the frequency range of 1-12 GHz, or by using stability circles at a few frequencies.

Prepare a monthly cash budget for cyrus brown manufacturing : Prepare a monthly cash budget for Cyrus Brown Manufacturing for the nine month period, March through November. Based on your findings in part b, will the company need any outside financing?

How might adam and steve respond to those arguments : What are his best arguments? How might Adam and Steve respond to those arguments? How do you think about court would rule?

Design the input and output matching networks : This relationship allows the impedance tuning techniques of Chapter 5 to be used to design the input and output matching networks for an amplifier.

Using exponential smoothing with a smoothing constant : Three years ago, the admissions office for Ivy College began using exponential smoothing with a smoothing constant of 0.25 to forecast the number of applications for admission each year.

Describe any measures you believe could have been used : Research an article from a credible source. The article should be about a recent accounting fraud incident within a company. Describe any measures you believe could have been used to avoid the problems presented in the article.

Where the equality holds given the sequence of information : Where the equality holds given the sequence of information sets {It. The underlying process Xt is known to follow the SDE: dXt = μdt + σdWt Determine the g(-) in the above representation for the case where M(-) is given by:

Compare mad for these two forecasting methods : Sharon Johnson, sales manager for the Alvarez-Baines Company, is trying to choose between two methods for forecasting sales that she has been using during the past five months.

Is a flexible budget always better : Flexible budgets provide different information than static budgets. Discuss some of these differences. Is a flexible budget always better? Are there times when you'd recommend using a static budget over a flexible budget?

User Account

All Pages