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Ise 216 Chapter 2 question hour

Ise 216 Chapter 2 question hour. 24.02.2010. Q 2.10.

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Ise 216 Chapter 2 question hour

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  1. Ise 216Chapter 2question hour 24.02.2010

  2. Q 2.10 In Dave Pelz’s Bible, the author attempts to characterize the skill of a golfer from a spesific distance in terms of the ratio of the error in the shot and the intended shot distance. For example, a five iron that is hit 175 yards and is 20 yards off target would have an accuracy rating of 20/175=0.114, while a sand wedge hit 60 yards that is 10 yards off target would have an accuracy rating of 10/60=0.1667 (the lower the rating the better.) to what evaluation method disscussed in this section is this most similar? Whay does this evaluation method make more sense in golf than absolute or squared errors?

  3. Q 2.11 A forecasting method used to predict can oppener sales applies the following set of weights to the last five periods of data: 0.1, 0.1, 0.2, 0.2, 0.4. Determine the following: • The one step ahead forecast for period 9. • B) the one step ahead forecast that was made for period 6.

  4. Q 2.13 Two forecastings are given below: Compare the effectiveness of these methds by computing MSE, MAD, MAPE. Do each of measures of frecasting accuracy indicate that the same forcasting technique is best? If not, why?

  5. Q 2.16 Determine the one step ahead forecasts for the demand for January 2000 using 3-, 6- and 12-month moving averages.

  6. ANSWER Q.2.16 MA (3) forecast:    258.33 MA (6) forecast:    249.33 MA (12) forecast:    205.33

  7. Q 2.24 Observed weekly sales of ball peen hammers at the town hardware store over an eight week period have been 14, 9, 30, 22,34,12,19,23 . • Suppose that three week moving averages are used to forecast sales. Determine the one step ahead forecasts for week 4 through 8. • Suppose alpha=0.15. find forecasts for week 4through 8 by exp. smoothing. • Based on MAD, which method did better? • What is the exponential smoothing forecast made at the end of week 6 for the sales in week 12?

  8. ANSWER 2.24 a) Week MA(3) Forecast 4 17.67 5 20.33 6 28.67 7 22.67 8 21.67 b) and c Week ES(.15) DemandMA(3) |err| |err| 4 17.67 22 17.67 4.33 4.33 5 18.32 34 20.33 15.68 13.67 6 20.67 12 28.67 8.67 16.67 7 19.37 19 22.67 0.37 3.67 8 19.32 23 21.67 3.68 1.33   6.547540 7.934 MAD-ES MAD-MA ES(.15) had a lower MAD over the five weeks. d)It is the same as the forecast made in week 6 for the demand in week 7, which is 20.67.

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