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

Median graph(less than), Marks(less than)-10,20,30,40,50,60,70,80 Number of...

Marks(less than)-10,20,30,40,50,60,70,80 Number of students-4,8,25,34,41,46,50,60 Draw a median graph for the followin

Description of sample at baseline, Description of Sample at Baseline 1...

Description of Sample at Baseline 1. Describe the sample characteristics and baseline values, comparing the two groups'characteristics. With any analysis, the first step

Define block grant, Define block grant A federal grant that consolidates, ...

Define block grant A federal grant that consolidates, for a wide reason or any type of purpose, funds previously awarded for a wide variety of activities.

Bi variate frequency distribution, solved example with data of bi variate f...

solved example with data of bi variate frequency distribution

Least squares analysis, Least squares method of fitting a line ( the line o...

Least squares method of fitting a line ( the line of best fit or the regression line) through the scatter diagram is a method which minimizes the sum of squared vertical deviations

Probability, How can you use probability to improve your chances of winning...

How can you use probability to improve your chances of winning at a casino

Balance sheet-actual reserves , (a)   The bank's excess reserves are its ac...

(a)   The bank's excess reserves are its actual reserves less required reserves. Actual reserves are given as $450 from its balance sheet. Required reserves are given by the produc

Homework, Can I get help with statistics?

Can I get help with statistics?

PROBABILITY & STATISTICS I, Design an investigation that details the follow...

Design an investigation that details the following six components: Note: If one or more of the following components do not apply to your investigation, explain why each does n

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