Answered: Centerville Bikes and Stuff (CBS) sells…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...

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Question

Please help with the correct answers in details:

Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows.

Week	1	2	3	4	5	6
Value	19	14	17	12	18	15

a) Develop the three-week moving average for this time series. (Round your answers to two decimal places.)

Week	Time Series Value	Forecast
1	19
2	14
3	17
4	12
5	18
6	15

What is Compute MSE? (Round your answer to two decimal places.)

MSE = ?

What is the forecast for week 7?

b) Use ? = 0.2 to compute the exponential smoothing values for the time series.

Week	Time Series Value	Forecast
1	19
2	14
3	17
4	12
5	18
6	15

What is Compute MSE. (Round your answer to two decimal places.)

MSE = ?

What is the forecast for week 7? (Round your answer to two decimal places.)

c) Use ? = 0.4 to compute the exponential smoothing values for the time series.

Week	Time Series Value	Forecast
1	19
2	14
3	17
4	12
5	18
6	15

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Follow-up Question

Answers to the following were incorrect: Please revise and answer with corrected answers as this is the only chance I have:

MSE with moving average = 146.94 incorrect

MSE with exponential smoothing with alpha = 0.2 = 10.86 incorrect

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Follow-up Question

MSE answer for part a = 5.95 is incorrect. Please do recalculations with the correct answer. also the rest of the question was not answered so here it is:

Use ? = 0.2 to compute the exponential smoothing values for the time series.

Week	Time Series Value	Forecast
1	19
2	14
3	17
4	12
5	18
6	15

Compute MSE. (Round your answer to two decimal places.)

MSE =

What is the forecast for week 7? (Round your answer to two decimal places.)

Use ? = 0.4 to compute the exponential smoothing values for the time series.

Week	Time Series Value	Forecast
1	19
2	14
3	17
4	12
5	18
6	15

Solution

by Bartleby Expert

SEE SOLUTION

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