Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Demand forecasting models in excel

22/10/2021 Client: muhammad11 Deadline: 2 Day

Forecasting Methods

Every day managers must make decisions on future demands for their product or service. Knowing the future demand for your product is important so that staffing levels can be adjusted or more equipment and raw material procured. However, future demand is unknown, so managers turn to forecasts to make good estimates of future demand for their product or service.

Now put yourself in the shoes of the plant manager. This chart provides historical data for the past demand for your product. Your task is to apply the naïve, moving average, exponential smoothing, and trend methods of forecasting and determine which method is the most accurate.

Week

Demand

Week 1

55

Week 2

75

Week 3

65

Week 4

70

Week 5

80

Week 6

85

Week 7

75

Week 8

80

Week 9

90

Week 10

75

Assignment

Use the Excel OM plugin and the data to run the forecast using naive, weighted moving average, exponential smoothing, and trend projection (without exponential smoothing) methods. Use this information.

· Weighted moving averages method - use two periods with 0.1 and 0.4 as the weights.

· Exponential smoothing method - use an alpha of 0.1.

After you run the data, determine which method provided the most accurate forecast and explain your reasoning.

Submit your spreadsheet and include your selected method and explanation on the spreadsheet.

Install Excel OM

After you have installed Excel on your computer, download and install Excel OM.

Use the following resources to download Excel OM:

· Download Excel OM for PCs, Version 5.3 (Pearson) (Links to an external site.)Links to an external site.

· Download Excel OM for Macs, Version 5.3 (Pearson) (Links to an external site.)Links to an external site.

Note for Windows Users: Windows Defender, Windows SmartScreen, and some virus protection programs on Windows computers may prevent Excel OM/QM from installing. For troubleshooting, refer to the Security Program Prevents Installation (Links to an external site.)Links to an external site.document created by the application developer, Dr. Howard Weiss.

Note for Mac Users: The download file for Macs is a ZIP file with the Excel OM/QM for Macs program. Unzip the file. To start Excel OM/QM, open the file named ExcelOMQMV5.xlam.

To use Excel OM, you must launch Excel using the Excel OM shortcut and enable macros.

Forecasting Methods

Every day managers must make decisions on future dema

nds for their

product or service. Knowing the future demand for your product is important

so that staffing levels can be adjusted or more equipment and raw material

procured. However, future demand is unknown, so managers turn to forecasts

to make good est

imates of future demand for their product or service.

Now put yourself in the shoes of the plant manager. This chart provides

historical data for the past demand for your product. Your task is to apply the

naïve, moving average, exponential smoothing, and trend methods of

forecasting and determine which metho

d is the most accurate.

Week

Demand

Week 1

55

Week 2

75

Week 3

65

Week 4

70

Week 5

80

Week 6

85

Week 7

75

Week 8

80

Week 9

90

Week 10

75

Assignment

Use the Excel OM plugin and the data to run the forecast using naive,

weighted moving average, exponential smoothing, and trend projection

(without exponential smoothing) methods. Use this information.

·

Weighted mov

ing averages method

-

use two periods with 0.1 and 0.4 as

the weights.

·

Exponential smoothing method

-

use an alpha of 0.1.

After you run the data, determine which method provided the most accurate

forecast and explain your reasoning.

Submit your spreadshe

et and include your selected method and explanation

on the spreadsheet.

Forecasting Methods

Every day managers must make decisions on future demands for their

product or service. Knowing the future demand for your product is important

so that staffing levels can be adjusted or more equipment and raw material

procured. However, future demand is unknown, so managers turn to forecasts

to make good estimates of future demand for their product or service.

Now put yourself in the shoes of the plant manager. This chart provides

historical data for the past demand for your product. Your task is to apply the

naïve, moving average, exponential smoothing, and trend methods of

forecasting and determine which method is the most accurate.

Week Demand

Week 1 55

Week 2 75

Week 3 65

Week 4 70

Week 5 80

Week 6 85

Week 7 75

Week 8 80

Week 9 90

Week 10 75

Assignment

Use the Excel OM plugin and the data to run the forecast using naive,

weighted moving average, exponential smoothing, and trend projection

(without exponential smoothing) methods. Use this information.

 Weighted moving averages method - use two periods with 0.1 and 0.4 as

the weights.

 Exponential smoothing method - use an alpha of 0.1.

After you run the data, determine which method provided the most accurate

forecast and explain your reasoning.

Submit your spreadsheet and include your selected method and explanation

on the spreadsheet.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Phd Writer
Professor Smith
Top Academic Tutor
Chartered Accountant
Essay & Assignment Help
Peter O.
Writer Writer Name Offer Chat
Phd Writer

ONLINE

Phd Writer

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$30 Chat With Writer
Professor Smith

ONLINE

Professor Smith

I am a professional and experienced writer and I have written research reports, proposals, essays, thesis and dissertations on a variety of topics.

$15 Chat With Writer
Top Academic Tutor

ONLINE

Top Academic Tutor

I find your project quite stimulating and related to my profession. I can surely contribute you with your project.

$18 Chat With Writer
Chartered Accountant

ONLINE

Chartered Accountant

I find your project quite stimulating and related to my profession. I can surely contribute you with your project.

$43 Chat With Writer
Essay & Assignment Help

ONLINE

Essay & Assignment Help

I am an experienced researcher here with master education. After reading your posting, I feel, you need an expert research writer to complete your project.Thank You

$33 Chat With Writer
Peter O.

ONLINE

Peter O.

Being a Ph.D. in the Business field, I have been doing academic writing for the past 7 years and have a good command over writing research papers, essay, dissertations and all kinds of academic writing and proofreading.

$23 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

The four building blocks of diversity consciousness leadership are - What is the personal value equation - Safran turney hospitality - If then statements examples math - Low carb lasagne sheets coles - To measure the amount of acetic acid in vinegar - Activity based costing acca - In terms of globally integrated marketing communications adaptation is - Everything's an argument 8th edition chapter 1 pdf - Examples of evidence based practice assignments - Moment of inertia for a solid disk - Captain snooze taren point - How to get the answers to your homework - 85 area code country - Project Proposal - Controlling and Leading - Young voices 2016 lyrics - Individualised care plan example - C10 x 25 steel channel - Copper and silver nitrate lab answers - Cr - Requirement gathering techniques interview - Central highlands library daylesford - Filemaker server 15 ports - 6 act structure tv - Prepare a diagram 0 dfd for the new system - Olds trumpet serial numbers - The title page required by ashford university is a modified version of apa title pages. - Week 5 discussion health promotion - Latrobe orientation week 2021 - Sharing in a ratio - Safety root cause analysis template - Earned value measurement systems must be capable of: - Max ferber shark tank - Probable cause is the standard for stop and frisk activities - Sioux uprising of 1876 worksheet answers - 8829 instructions 2012 - First hand data and second hand data - Holly cottage kennels warwick - Acid and carbonate equation - 23 alton avenue torrens park - Discussion Board Chapter 5 Nursing Leadership & Management - Kennesaw state university chalk and wire - Brendan o meara kalief browder - Organizational Leadership - Discussion (AG) - Confidential and proprietary information policy - 2015 exam 1 methods - Chapter 8 1 application problem - Moran owns a building - 3 page paper. Attention to detail is a must - 15:00 in 12 hour clock - Which part is primarily responsible for conducting foreign relations - Gross flight path and net flight path - AVD5 Due in 12 hours - I know that my redeemer lives lyrics lutheran hymnal - Wedding project management assignment - No face junot diaz pdf - Essay en Espanol # 4 - Square root of 1/12 - Principle of marketing (module3) - Position Paper - Subject:  Strategic Decision Making /Subject: Initiating the Project - Post - My birkbeck profile login - 0.1 m sodium carbonate - Impossible quiz hacked unlimited lives and skips - Give me liberty eric foner chapter 15 outline - Consider the following discrete probability distribution - Electronics - Phonics scope and sequence fountas and pinnell - Agastya rishi story in hindi - Electronic data interchange edi is helpful to managers because - Janet belsky experiencing the lifespan 4th edition citation - Bleeding time duke method - Ford business level strategies and corporate level strategy - Digital dial indicator data output - Stand by me chords - Jcpenney fair and square pricing strategy case study - Week 8 Status Report - Leadership in Healthcare Organization W5 Project - Response to Question - 210 ave l levelland tx - Interpersonal communication in movies essay - Discussion - Which of the following structures represent the same compound - Systematic observation in psychology - Asthma PPT A6 - Order 2497384: Elective Music Teacher 1 page summary - Research Assignment - Operations management assignment 1 - Cert 4 education support tafe sa - Week 3 discussion - Hard rock cafe operations management video - The advantage of vernier caliper over micrometer is that it - Final Paper (ECO202) - WEEK 2 DESCUSSION 2 PHARMACOLOGY - Effective interest method of amortization journal entries - Control theory services marketing - 56 redbanks road willaston - Controls electrician job description