Q1
Q1: Create a Line Chart to illustrate the data
Period (t) Demand
1 28
2 38
3 40
4 52
5 54
6 53
7 52
Q2
Q2. Moving Average
a. Compute the Forecast for the next period using a 3-period moving average.
Period (t) Demand Forecast Absolute Deviation Squared Error Absolute % Error
1 28
2 38
3 40
4 52
5 54
6 53
7 52
8
b. Calculate the following Forecast Error measures for this method.
Mean Absolute Deviation (MAD):
Mean Square Error (MSE):
Mean Absolute Percentage Error (MAPE):
c. Create a Line chart to illustrate the demand and forecast values.
Q3
Q3. Exponential Smoothing Method
a. Compute the Forecast for the next period using simple exponential smoothing with 0.3 as the smoothing constant.
Period (t) Demand Forecast Absolute Deviation Squared Error Absolute % Error
1 28
2 38
3 40
4 52
5 54
6 53
7 52
8
b. Calculate the following Forecast Error measures for this method.
Mean Absolute Deviation (MAD):
Mean Square Error (MSE):
Mean Absolute Percentage Error (MAPE):
c. Create a Line chart to illustrate the demand and forecast values.
Q4
Q4. Linear Trend
a. Compute the Forecast for the next period using a simple linear regression.
Period (t) Demand Forecast Absolute Deviation Squared Error Absolute % Error Slope (Trend) :
1 28 Intercept (Level) :
2 38
3 40
4 52
5 54
6 53
7 52
8
b. Calculate the following Forecast Error measures for this method.
Mean Absolute Deviation (MAD):
Mean Square Error (MSE):
Mean Absolute Percentage Error (MAPE):
c. Create a Line chart to illustrate the demand and forecast values.
Q5
Q5. Method Selection
Determine Which of the forecastings method is more accurate based on the Mean Absolute Percentage Error (MAPE)
Which of the Methods is best based on MAPE ?
Q6
Q6 A garage band wants to hold a concert. The expected crowd is 2,600. The average expenditure on concessions is $39.
Tickets sell for $27 each, and the band’s profit is 74% of the gate and concession sales minus a fixed cost of $22,000.
Develop a mathematical model and implement it on a spreadsheet to find the band’s expected profit.
Q7
Q7. Spreadsheet Modeling
An electronics manufacturer launching of a new device to the market. Fixed costs for production of the new device is $41,591.
Analysis of the cost of materials and labor required resulting in estimated variable costs totaling $8.51 per device.
A recent market research report showed that the device would sell reasonably well at a price of $37 per unit.
a.Build a spreadsheet model to calculate the profit or loss for a given demand. What profit or loss can be anticipated with a demand of 3,650 units?
Profit or Loss
b. Use Goal Seek to determine the number of units that the manufacturer must sell to break even (profit=0) given that the device price is $37 per unit.
Breakeven Units
c. Use Goal Seek to determine what should be the price per unit of the device to break even (profit=0) with an estimated demand of 5,250 units.
Breakeven Price
d. Create a one way data table to vary demand from 1000 to 6000 in increments of 1000 to assess the sensitivity of profit to demand. What is the profit or loss for demand of 3,000 units if price is set to $50?. Highlight the corresponding value on the data table..
Profit or Loss
e. Use a TWO WAY data table to vary demand from 1000 to 6000 in increments of 1000 and vary price from 40 to 60 in increments of $5. What is the profit or loss for demand of 5,000 units and a price of $55?. Highlight the corresponding value on the data table.
Profit or Loss
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