Time series analysis of ice cream production

Assignment Help Basic Statistics
Reference no: EM1396231

The Bee line Café is well known for its popular homemade ice cream, which it makes in a small plant in back of the café. People drive long distance to buy the ice cream. The two ladies who own the café want to develop a forecasting model so they can plan their ice cream production and determine the number of employees they need to sell ice cream in the café. They have accumulated sales records for their ice cream for the past 12 quarters.

Develop:

a) an exponential smoothing model (= 0.50)

b) moving average model (k = 4)

c) a trend model; and

d) a seasonally adjusted model to forecast demand.

Assess the accuracies of the models by using Bias, MAD, MAPD.

Quarter Ice Cream Sales (gal)

1 350

2 510

3 750

4 420

5 370

6 480

7 860

8 500

9 450

10 550

11 820

12 570

Reference no: EM1396231

Questions Cloud

Explain the extent to which leader cares about subordinates : Explain the extent to which the leader cares about subordinates, respects their ideas and feelings, and establishes mutual trust.
Show the genotypes of the p, f1 and f2 generations : Wild-type fruit flies have brick-red eyes. A pure-breeding strain of wild-type flies was crossed with a pure-breeding strain with white eyes.
Logic of the ordinary least square : Explain the logic of the ordinary least Square (OLS) method? How are the least squares formulas for the slope and intercept derived?
What is the likely origin of the recombinants : In peas, the genes a, b, c, d, e and f are linked on chromosome V and in the order given and the map distances are RF(a-b)=7 cM, RF(b-c) = 17 cM, RF(c-d) = 12 cM, RF (d-e) = 14 cM RF(e-f)= 10 cM.
Time series analysis of ice cream production : The Bee line Café is well known for its popular homemade ice cream, which it makes in a small plant in back of the café. People drive long distance to buy the ice cream.
Proportion of viewers watching the channels : At the .05 significance level, is there a difference in the proportion of viewers watching the three channels?
Find primary determinant of the fate of pyruvic acid : Possible fates of pyruvic acid in a bactrium? What is the primary determinant of the fate of pyruvic acid? What is the fate of compounds to which pyruvic acid may be converted?
Develop a linear regression model : Carpet City wants to develops a means to forecast it carpet sale. The store manager believes that the store's sale are directly related to the number of new housing starts in town.
Describe sealed and unsealed tubes : All enterics are facultative anaerobes; that is, they have both respiratory and fermentative enzymes. What color results would you expect for organisms in O-F glucose media inoculated with an enteric.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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