that finds explanatory factors of an event. A daily example would be to forecast the future economic growth of our country by selecting numbers of independent variables, such as oil price (x) that can contribute to economic growth (dependent variable y). McDonald uses Simple Moving Average (SMA) or Weighted Moving Average (WMA) to estimate the demand for its hamburger in the next hour. While both methods remove random variations in demand, WMA assigns more weight to recent data to make the forecast more responsive to changes in demand. Assume the demand for hamburger becomes relatively unstable; McDonald would switch to the Exponential Smoothing Model that can gradually correct forecast errors and systematically ages the data. When a commuter airline observes a steady increase in percentages of seats sold each week, they might use the Exponential Smoothing with Trend Adjustment, because it not only helps them to predict seat sales for the next week, but…
Globalization, in its modern form, came to Bangladesh in the 1980s with the expansions of the garment industry. Reaz and Jewel Garments, the first garment-exporting firm, was established in 1977, at a time when Bangladesh’s total export comprised of about 6.3 percent of its GDP (Ahmed et al., 2014; Rashind, 2006). In the 1980s, the South Korean firm Daewoo played an important role in the industry’s takeoff when it partnered with Desh Garments. Since the end of the MFA in 2005, clothing exports…
IV: Rebuttals to my Characterisation of Reclamation In the above, I have created a model to represent to sociological phenomena of the reclamation of slurs. I have given an example how we can see this mechanism at work with respect to the word queer. Though this provides evidence in support of my thesis the question arises as to what measure should be used to more so test the effectiveness of the model. What should be considered and how can my thesis best be supported? The model which I have…
rate of E. coli growth over 100 minutes in a heated liquid growth medium. The prediction is that the control E. coli culture will grow at a faster rate exponentially over 100 minutes than the experimental bacteria culture. Consequently due to heat application, the experimental bacteria will not grow over the 100 minutes, and will either move into G0 of its cell cycle or will produce descending results as cell death occurs. The null hypothesis for this experiment is that the experimental E. coli…
of determination of 0,99 and this shows that 99% of the total variation in absorbance can be explained by the linear relationship between absorbance and concentration of the solutions. The other 1% of the total variation of absorbance will remain unexplained. The absolute correlation coefficient (r) is 0,99, which shows a very high correlation. As well as, because r is positive, it shows that absorbance increases as concentration increases. Figure 1 was then used to find out the concentration of…
One of the reasons why companies expand internationally is to have access to new markets. One such global company, who this writer happens to be very familiar with, is an automobile dealer group called Weins Canada, which is a wholly-owned subsidiary of Weins Group in Japan. The company got its start in 1956 with its first dealership network, called Yokohama Toyopet. The company’s founder, Kanji Miyahara Sr., saw an opportunity to diversify and, potentially, to add exponential growth in…
MIS: New/revised information systems, and Internet services. Product/Service Design: Revision of current features, design of new products or services. Product or Service Design is strategically important to win the customer’s approval to get increased demand. Translates customer’s wants and needs into profit. Example there wasn’t a demand for FB phone. A company will strategically be ahead by modifying what already exits, through innovation (page 134). Exponential Smoothing: A weighted…
LAPTOP as shown in Table 1. Forecast the monthly demand for year 6 using the static method, moving average, simple exponential smoothing, Holt's model and winter’s model for forecasting. In each case, evaluate the bias, TS, MAD, MAPE and MSE. Comment on the quality of the each forecast and which forecasting methods do you prefer? Why? Moving Average When we talk about the simple moving average method, is appropriate when there is neither trend nor seasonality in the demand pattern. The…
The location of the Central Distribution system is very critical. It should be strategically planned at central Europe or for example in FRANCE. All the products from each of the manufacturing plants should arrive at the Central Warehouse, where the customer could place the order and it would be dispatched. In order to forecast the supplies to the Central Warehouse, we can use the Weighted Average or Exponential Smoothing Method as these methods prove best with changing trends in product demand.…
Another forecasting method that can be used is exponential smoothing, as it is used as a smoothing constraint to determine future numbers. An accurate forecast is given when trends are taken into consideration since the exponential smoothing becomes trend adjusted (Heizer & Render, 2010). Using the Excel OM software to determine the results for the trend adjusted exponential smoothing forecast generated the following data: Alpha | 0.3 | | | | | Beta | 0.4 | | | | | Data | |…