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

Forecasting problems in operations management

08/10/2021 Client: muhammad11 Deadline: 2 Day

Forecasting Methods- Excel Problem

I need an excel assignment done for a Management of Production and Operations class.

Someone who knows how to use Excel in project management applications.

You will need to install a special Excel plugin/extension in order to complete the assignment. I will provide the link to download the plugin and instructions on how to install it. Pretty simple

Instructions for the assignment are attached.

Also, the textbook for the class is attached.

ORIGINAL WORK ONLY

NO PLAGIARISM

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:

Calculation Guru
Fatimah Syeda
Professional Accountant
Peter O.
A+GRADE HELPER
Top Writing Guru
Writer Writer Name Offer Chat
Calculation Guru

ONLINE

Calculation Guru

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$45 Chat With Writer
Fatimah Syeda

ONLINE

Fatimah Syeda

I have read and understood all your initial requirements, and I am very professional in this task.

$50 Chat With Writer
Professional Accountant

ONLINE

Professional Accountant

I have read your project details. I can do this within your deadline.

$45 Chat With Writer
Peter O.

ONLINE

Peter O.

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$22 Chat With Writer
A+GRADE HELPER

ONLINE

A+GRADE HELPER

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$22 Chat With Writer
Top Writing Guru

ONLINE

Top Writing Guru

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$46 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

Ansys supported graphics cards - Hardware and networking pdf ebook free download - Bond j has a coupon rate of 3 percent - Watashi wa nihongo ga wakarimasen - Problem 2 2a part level submission - Constipation soap note - Discuss data visualization - 103 prime or composite - 2 in 1 - Bay city calendar of events - 1022 - What physical feature most distinguishes biotite mica from muscovite mica - Hydraulic forces on submerged surfaces lab - Career counseling case study - Home depot strengths and weaknesses - Technology across the care continuum - Emirates airlines london office - Partridge in a pear tree parody - Burj khalifa essay in english - Snhu online bookstore at mbs direct - Case Study: Mrs. J - Spotlight 4 student's book pdf - Power of logic answer key - Industrial training unsw engineering - Kcl hr digital services - $5 for who can do - The developing person through the lifespan edition - Failure mode and effects analysis nursing - 4 paragraphs (LOGIT)- NEED IN 12 HOURS - Difference between omnipotent and symbolic view of management - Excel - Mechanical heat pump experiment lab report - Research - The complete textbook of phlebotomy pdf - Crystals for removing curses - Roband bain marie spare parts - St luke's repeat prescription - What is item processing activities - Cornell notes on i have a dream speech - Among shinto values and practices which task is quite important - In a 2000 word essay - A discourse concerning the original and progress of satire - Characters from don quixote - Sharp essay examples - E Marketing -10 - Perpetual pure equity alpha - Gym class heroes girlfriend - ZAK: Discussion 1 - Difference between biotic and abiotic components of ecosystem - Dq - Therapist aid discussion questions - 6 types of reactions - Discussion B 7-2 - Points for pip descriptors - The farm inside angola prison update - Regulation for Nursing Practice Staff Development Meeting - Structural steel span tables answers - Compare and contrast two different methods for evaluating evidence - Creative writing about photography - Ibm filenet content manager implementation best practices and recommendations - Bocam park pencoed jobs - Wacc of coca cola - Final research proposal - Recent financial statement data for harmony health foods (hhf) inc. is shown below. - Gambler carol ann duffy - Wk5 DQ - Data Analysis and Business Intelligence - Do not go gentle into that good night figurative language - Discussion Responses: Evolution, Malaria, and Mosquitoes - Catcher in the rye banned book - Pbs building big bridges - Problem solving strategies crossing the river with dogs answers - Becton labs inc produces various chemical compound for industrial use - Need Response 2 to below discussion - Good school leadership speeches - Examples of personal troubles and public issues sociology - Literacy pre assessment quiz gcu - One access one420 manual - Ethical and legal implications of prescribing drugs for nurse practitioners - Air force referral epr examples - Demonstrate demorgan's laws using a venn diagram - Why are there two ways to write a - Romeo and juliet powerpoint notes - Do the least harm - Nsw det merit selection procedures - Ocr f322 june 2013 mark scheme - Https greatergood berkeley edu quizzes ei_quiz take_quiz - Cehe canvas - Essay questions on quills of desire - Rotating tree stand lowes - Paper writing - 2 PAGES ESSAY - Being green at ben and jerry's thesis - Warranty expense accounting journal entry - Sorry this hping binary was compiled without tcl scripting support - 301 escape games level 11 - Discussion - Why does intercultural communication have the potential for increased noise - Chrome extension mhjfbmdgcfjbbpaeojofohoefgiehjai index html - Renold conveyor chain catalogue - Starbucks bankers hall plus 15