QMB Exam 2 Review
QMB Exam 2 Review
QMB Exam 2 Review
- Trend
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown
in the following table. Use exponential smoothing with a smoothing constant of 0.3 to forecast the year
12 demand. -
DEMAND
FOR
YEAR FERTILIZE
R (1,000s
OF BAGS)
1 4
2 6
3 4
4 5
5 10
6 8
7 7
8 9
9 12
10 14
11 15
DEMAND
FOR
YEAR FERTILIZER
(1,000s OF
BAGS)
1 4
2 6
3 4
4 5
5 10
6 8
7 7
8 9
9 12
10 14
11 15
Students in a management science class have just received their
grades on the first test. The instructor has provided information about
the first test grades in some previous classes, as well as the final
averages for the same students. Some of these grades have been
sampled and are as follows. What is the MSE of the data set?
Final
Student 1st Exam Average
1 98 93
2 77 78
3 88 84
4 80 73
5 96 84
6 61 64
7 66 64
8 95 95
9 69 76
A regression analysis between sales (in $1000) and price (in dollars) resulted
in the following equation
Y= 50,000 − 8x
The above equation implies that an
Using exponential smoothing, the demand forecast for time period 10 equals the demand forecast for
time period 9 plus
- 0.0625
-
- The regression line minimizes the sum of the squared errors.
-
- The dependent variable is the explanatory variable.
-
- Estimates of the slope are found from sample data.
-
- The error is found by subtracting the actual data value from the
predicted data value.
- Least Squares.
Consider the actual and forecast values contained in the table. What is
the MSE of the forecast? - 0.573
Daily humidity in the city of Houston for the last week have been: 93, 94, 93, 95, 92, 86, 98 (yesterday).
Calculate the MAD based on a two-day moving average, covering all days in which you can have a
forecast and an actual humidity level.
- 4.1
Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13,
15 (listed from oldest to most recent). Forecast sales for the next day using a two-day moving average.
- 14
Students in a management science class have just received their grades on the first test. The instructor
has provided information about the first test grades in some previous classes, as well as the final
averages for the same students. Some of these grades have been sampled and are as follows. Use Excel,
with the values of r and r2 for this model. Interpret the value of r2 in the context of this problem. (table
at the top ^)
- 85% of the variability in the final average can be explained by the variability in the first test
score.
Period Y
1 28
2 42
3 49
4 74
5 78
6 93
7 115
8 129
- 227.19-1.45(38)= 172.09