An electrical contractor\'s records during the last five weeks indicate the numb
ID: 431537 • Letter: A
Question
An electrical contractor's records during the last five weeks indicate the number of job requests:
Week:
1
2
3
4
5
Requests:
16
18
14
17
18
Predict the number of requests for week 6 using each of these methods:
a.
Naive
Number of requests
b.
A four-period moving average. (Round your answer to 2 decimal places.
Number of requests
c.
Exponential smoothing with ? = .20. Use 16 for week 2 forecast. (Round your intermediate forecast values and final answer to 2 decimal places.)
Number of Requests
F3
F4
F5
F6
An electrical contractor's records during the last five weeks indicate the number of job requests:
Explanation / Answer
Let us understand how to calculate the number of job requests using different methods:
(a) Naive Method:
This is the simplest method used. According to this method,
The forecast for the current period = Actual record of the previous period
So as per the above stated equation, number of requests for week 6 will be equal to the actual requests faced in week 5. Hence the number of requests for 6th week = 18 requests
(b) Four Period Moving Average:
In order to depict the requests for 6th week using four period method following steps need to be followed:
= 18+14+17+18
= 67
= 67 / 4
= 16.75 requests
(c) Exponential smoothing Method:
Given:
Exponential smoothing (?) = .20
Forecast for week 2 (F2) = 16
Now,
Forecast for week 3 (F3) = F2+? (A2 – F2)
= 16 +.20(18- 16)
= 16.4 requests
Forecast for week 4 (F4) = F3+? (A3 – F3)
= 16.4 +.20(14- 16.4)
= 15.92 requests
Forecast for week 5 (F5) = F4+? (A4 – F4)
= 15.92 +.20(17- 15.92)
= 16.14 requests
Forecast for week 6 (F6) = F5+? (A5– F5)
= 16.14 +.20(18 - 16.14)
= 16.51 requests
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.