Question

Week 8: Time Series Forecasting In your environment (business or personal), please give an application of...

Week 8: Time Series Forecasting

  1. In your environment (business or personal), please give an application of exponential smoothing and WHY you would use only this technique.
  2. In your environment (business or personal), please give an application of trend projection and WHY you would use only this technique.
  3. In your environment (business or personal), please give an application of moving average and WHY you would use only this technique.
Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose that a company uses an application of time series analysis that is known as “demand...
Suppose that a company uses an application of time series analysis that is known as “demand forecasting”. Meaning that they have a need to forecast the periodic demand for their products over time. In their use of demand forecasting, they use smoothing to remove random variation(noise) from their historical demand. This allows them to better identify demand patterns (primarily trend and seasonality) and demand levels that can be used to estimate future demand. The following represents their Excel spreadsheet with...
(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two...
(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Week Time Series Value Forecast 1 16 2 11 3 13 4 10 5 14 6 12 Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for week 7? (c) Use α = 0.2 to compute the exponential smoothing forecasts for the time series. Week Time Series Value Forecast 1 16 2 11 3 13 4...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 12...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 12 16 11 18 13 (b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Week Time Series Value Forecast 1 19 2 12 3 16 4 11 5 18 6 13 Compute MSE. (Round your answer to two decimal places.) MSE =   What is the forecast for week 7? (c) Use α = 0.2 to compute...
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13...
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 A) What type of pattern exists in the data? (HORIZONTAL OR TREND) B) Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 13 3 16 4 11 _______ 5 17 _______ 6 14 _______ MSE:...
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13...
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 15 13 15 15 (b) Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. (c) Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. (d)...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23 13 21 13 19 21 17 (a) Create a time series plot. What type of pattern exists in the data? - Select your answer -Positive trend patternHorizontal patternVertical patternNegative trend patternItem 2 (b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation....
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 24...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 24 15 21 12 19 21 16 (a) Choose the correct time series plot. (i) (ii) (iii) (iv) - Select your answer -Graph (i)Graph (ii)Graph (iii)Graph (iv)Item 1 What type of pattern exists in the data? - Select your answer -Positive trend patternHorizontal patternVertical patternNegative trend patternItem 2 (b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month...
Problem 15-05 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6...
Problem 15-05 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 16 13 18 11 15 14 Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places. Week Time Series Value Forecast 1 16 2 13 3 18 4 11 5 15 6 14 MSE: _______ The forecast for week 7: ______ Use  = 0.2 to compute the exponential smoothing values...
Consider the following time series data. Month 1 2 3 4 5 6 7 Value 22...
Consider the following time series data. Month 1 2 3 4 5 6 7 Value 22 11 18 10 17 21 13 A) What type of pattern exists in the data? The data appear to follow a seasonal pattern. The data appear to follow a trend pattern.     The data appear to follow a horizontal pattern. The data appear to follow a cyclical pattern. B) Develop the three-month moving average forecasts for this time series. Month Time Series Value Forecast 1...
1 Which of the following statements is TRUE regarding time series forecasting methods? a Moving average...
1 Which of the following statements is TRUE regarding time series forecasting methods? a Moving average (MA) method is appropriate for forecasting an item that shows seasonal pattern b By assigning larger weight to the most recent period data, weighted moving average (WMA) method is more reflective to the changes in the most recent period of data than MA method c Simple exponential smoothing method is NOT appropriate for forecasting stable item without trend d Linear trend line method is...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT