McCalls Garden Supply has seen the following annual demand for lime bags over the past 11 years:
Question:
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(a) Develop 2-year, 3-year, and 4-year moving averages to forecast demand in year 12.
(b) Forecast demand with a 3-year weighted moving average in which demand in the most recent year is given a weight of 2 and demands in the other two years are each given a weight of 1.
(c) Forecast demand by using exponential smooth-ing with a smoothing constant of 0.4. Assume that the forecast for year 1 is 6,000 bags to begin the procedure.
(d) Which of the methods analyzed here would you use? Explain your answer.
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Related Book For 
Managerial Decision Modeling With Spreadsheets
ISBN: 718
3rd Edition
Authors: Nagraj Balakrishnan, Barry Render, Jr. Ralph M. Stair
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