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Problem -Given Is a Historical Time Series for Job

  • Date Submitted: 03/15/2016 05:35 AM
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Problem -Given is a historical time series for job
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1. Given is a historical time series for job services demand in the prior 6 months.

Month Demand
1 799
2 816
3 789
4 814
5 815
6 805
2.
Use the table below to answer all questions:

Month Demand Forecast
1 799 F1
2 816 F2
3 789 F3
4 814 F4
5 815 F5
6 805 F6
7 F7
3.
a) The F3 by using Naïve forecasting method = _________
b) The F7 by using Naïve forecasting method = _________



2
1. Given is a historical time series for job services demand.

Period Demand Forecast
1 313 F1
2 289 F2
3 208 F3
4 325 F4
5 219 F5
6 323 F6
7 302 F7
8 299 F8
F9
F10
F11
F12
2.
If you were not able to generate a forecast for particular period, you should enter N. Also, F3 means Period 3 Forecast.

Use Weighted moving average with weights of 0.09, 0.11, 0.16, 0.25, 0.39 to answer Questions 1) to 3).
1) The F5 = ______
2) The F12 = ______ (in two decimal places)
3) If you were told to prepare a forecast schedule, the forecast schedule should contain forecast demands from Period ______ to Period ______.

Use Exponential Smoothing with alpha = 0.29 to answer Questions 4) to 6)
4) The F2 = ______ (in two decimal places)
5) The F3 = ______ (in two decimal places)
6) If you were told to prepare a forecast schedule, the forecast schedule should contain forecast demands from Period ______ to Period ______.


3
1. National Scan, Inc., sells ratio frequency inventory tags. Monthly sales for a 6-month period were as follows:

Month: Sales
Feb 65
Mar 66
Apr 66
May 71
Jun 72
Jul 72
2.
Disregard the demand pattern of the given time series, You are asked to use the time series to derive a trend equation. In order to derive the trend equation is Ft = a + bt, you have to compute several components to compute the values for the variables a and b. Answer the following...

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