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"Problem Set 4" for BUSN603 D003 Win 15

Part 1 of this quiz is based on the information in Problem 5-13; Part 2 is based on the information in Problem 5-15; and Part 3 is based on the information in Problem 5-19 in the Textbook.

Please review the Moving Averages and the Exponential Smoothing forecasting methods introduced in Section 5.5 in the textbook before taking this quiz. You may find it very helpful to go through the examples presented in Program 5.1A to 5.1C and Program 5.2 in the textbook as well as in the Week 4 PowerPoint Slides (5-26 to 5-40).

You may take this quiz as many times as you wish and only your highest score will be recorded for grading. These problem sets are designed for you to grasp the course material and achieve the course objective. Hence, as long as you work diligently, you may expect to receive 100% on this problem set.

However, your resubmission has to be made before the due date. After the due date, you will NOT be able to resubmit and for those who have not submitted by the due date, you will be given only one chance to submit and your submission will be tagged as late.

This assessment is due Sunday, 2015-Mar-29 11:55 PM.
 
Part 1 of 3 - Part 1
Develop a four-month moving average forecast for Wallace Garden Supply and compute the MAD. A three-month moving average forecast was developed in the table attached.
 
Question 1 of 11
10.0 Points
The four-month moving average forecast for Wallace Garden Supply is ___________. (Please round it to an integer and include no units.)
 
 
 
 
Reset Selection

 What's This?
Question 2 of 11
10.0 Points
The Mean Absolute Deviation (MAD) for the above forecast is  What's This?
 
Part 2 of 3 - Part 2
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the table attached. Develop a 3-year moving average to forecast sales. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1.
 
Question 3 of 11
10.0 Points
The three-year moving average forecast for Wallace Garden Supply is  What's This?
Question 4 of 11
10.0 Points
The Mean Absolute Deviation (MAD) for the above moving average forecast is  What's This?
Question 5 of 11
10.0 Points
The three-year weighted moving average forecast for Wallace Garden Supply is  What's This?
Question 6 of 11
10.0 Points
The Mean Absolute Deviation (MAD) for the above weighted moving average forecast is  What's This?
Question 7 of 11
5.0 Points
Based on your previous calculation, which method do you think is the best?
 
 
 
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Part 3 of 3 - Part 3

Sales of Cool-Man air conditioners have grown steadily during the past 5 years as shown in the attached table. The sales manager had predicted, before the business started, that year 1’s sales would be 410 air conditioners. Please use exponential smoothing with a weight of  f$alpha = 0.30f$ to answer the following questions.

 
Question 8 of 11
10.0 Points
The starting /initial forecast for the sales of Cool-Man air conditioners is _________. (Please round it to an integer and include no units.)
 
 
 
 
Reset Selection

 What's This?
Question 9 of 11
5.0 Points
The Year 2 forecast for the sales of Cool-Man air conditioners is  What's This?
Question 10 of 11
10.0 Points
The Year 6 forecast for the sales of Cool-Man air conditioners is  What's This?
Question 11 of 11
10.0 Points
The Mean Absolute Deviation (MAD) for the above exponential smoothing forecast is [removed] . (Please round it to two decimal points.) 
 
 
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