CEO John Goodale, at Southern Illinois Power and Light, has been collecting data on demand for electric power in its western subregion for only the past 2 years. Those data are shown in the table below. To plan for expansion and to arrange to borrow power from neighboring utilities during peak periods, Goodale needs to […]
Refer to Problem 4.2. Develop a forecast for years 2 through 12 using exponential smoothing with a = .4 and a forecast for year 1 of 6. Plot your new forecast on a graph with the actual data and the naive forecast. Based on a visual inspection, which forecast is better? Problem 4.2 a) Plot […]
Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows: a) Use a 2-month moving average on all the data and plot the averages and the prices. b) Use a 3-month moving average and add the 3-month plot to the graph […]
The actual demand for the patients at Omaha Emergency Medical Clinic for the first 6 weeks of this year follows: Clinic administrator Marc Schniederjans wants you to forecast patient demand at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method […]
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