What is basic naive method, Operation Management

Assignment Help:

1. The monthly sales for Telco Batteries, Inc., were as follows: Month Sales

Jan 20

Feb 21

Mar 15

Apr 14

May 13

Jun 16

Jul 17

Aug 18

Sep 20

Oct 20

Nov 21

Dec 23

a. Plot the monthly sales data on a sheet of graph paper.

b. Forecast January sales for the new year using each of the following:

1) Basic naïve method.

2) A 3-month moving average.

3) A 6-month weighted moving average using 0.1, 0.1, 0.1, 0.2, 0.2, 0.3, with the heaviest weights applied to the most recent months.

4) Exponential smoothing using a smoothing constant of 0.3 and a September forecast of 18 (note that you must compute forecasts for Oct, Nov, and Dec before computing the one for January).

5) A trend projection using the least squares method c. With the data given,which method would allow you to forecast next March's sales?


Related Discussions:- What is basic naive method

Legal rules for recovery of the amounts, MJZ Corporation had a checking acc...

MJZ Corporation had a checking account with Gulfstream Bank. So that customers who close their accounts would not be embarrassed by having their checks bounce, the bank routinely h

Explain how would they be measured, Based on the description of Coyote Comm...

Based on the description of Coyote Community College and its environment, what specific types of measures should they include in each of their perspectives of the balanced scorecar

What are the characteristics of just in time philosophy, What are the chara...

What are the characteristics of just in time philosophy? Characteristics of JIT philosophy: a. Closer relations along with suppliers maintained b. Smaller and extra fr

Explain fixed cost, Explain Fixed Cost. Fixed Cost: Cost may be desc...

Explain Fixed Cost. Fixed Cost: Cost may be described as the amount of expenditure incurred on, or attributable to a specified thing. Fixed costs are those costs that tend t

Explain dummy activity, Explain Dummy Activity. Every project has a num...

Explain Dummy Activity. Every project has a number of job operations or tasks that are termed as activities.  An activity is a component of a project and this may be a process,

Describe the topic of joint versus separate preference, Explain the topic o...

Explain the topic of joint versus separate preference reversal.

Explain characteristics of organisational development, Explain characterist...

Explain characteristics of organisational development. Characteristics of Organisational Development (i) Organisational progress is an educational strategy for bringing a

What are the assumptions of economic order quantity, What are the assumptio...

What are the assumptions of Economic Order Quantity? Assumptions of Economic Order Quantity (EOQ): a. The stage of customer demand is identified b. The stage of customer

When the lrac curve slopes downward over the relevant range, In which of th...

In which of the following situations would consideration of the minimum efficient scale of operation suggest that the market should be served by a large number of small firms to mi

Explain cars tend to break down at the rate of two per hour, During the cam...

During the campus Spring Fling, the bumper car amusement attraction has a problem of cars becoming disabled and in need of repair. Repair personnel can be hired at the rate of $20

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd