Calculate a forecast using exponential smoothing, Basic Statistics

Assignment Help:

The Midwestern Manufacturing Company (MMC) is a large manufacturer of electrical generators.  The firm has experienced demand for their generators as shown below:

Year  Demand

2003      74

2004      79

2005      80

2006     90

2007    105

2008    142

2009    122

For the questions below, create EXCEL worksheets naming the tabs as indicated.

a. Calculate a forecast for 2010 using a 3 year moving average. Place your results in a worksheet tab named Q1.

b. Calculate a forecast for 2010 using exponential smoothing. Use .7 as your Alpha value. Place your results in worksheet tab Q1.

c. Using Mean Absolute Deviation as your criteria, determine which method performs best. Explain your decision. Place your results in worksheet tab Q1.


Related Discussions:- Calculate a forecast using exponential smoothing

Kripsy kreme, How did round trip transactions violatet the revenue recognit...

How did round trip transactions violatet the revenue recognition principle?

Normal Approximation to Binomial Probability Distribution, A machine that f...

A machine that fills quart milk cartons is set up to average 32.2 oz per carton, with a standard deviation of 1.2 oz. Assume a normal distribution for all of the cartons filled, wh

Aggregate expenditure method, Problem Construct a consumer price index ...

Problem Construct a consumer price index for the information given by using  (i) Aggregate expenditure method, (ii) Family budget method. Commodities

Buildings solutions, Buildings solutions Permanent arrangements owned or ...

Buildings solutions Permanent arrangements owned or held by the state. The cost of buildings includes both acquisition costs (historical cost, ancillary costs, and, for proprieta

Cost accounting, Problems and solutions in marginal costing

Problems and solutions in marginal costing

Sampling, Advantages of sampling over population

Advantages of sampling over population

Describe the relationship between gender and course of study, In Ireland, D...

In Ireland, Davoren et el (2015) report that that 65.2% of male University students self-reported alcohol consumption levels which are classified as hazardous. A random sample of

Peanuts and cost accounting, EFF EX: Joe, you said you put in these peanuts...

EFF EX: Joe, you said you put in these peanuts because some people ask for them, but do you realise what this rack of peanuts is costing you? JOE: It ain''t gonna cost. ''sgonna be

Cost accounting question, LO.1 (Activity analysis) The Raleigh plant manage...

LO.1 (Activity analysis) The Raleigh plant manager of Allentown Corp. has noticed the plant frequently changes the schedule on its production line. He has gathered the following in

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