A forecasting method used to predict can opener sales applies the following set of weights to the
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A forecasting method used to predict can opener sales applies the following set of weights to the last five periods of data: .1, .1, .2, .2, .4 (with .4 being applied to the most recent observation). Observed values of can opener sales are Period: 1 2 3 4 5 6 7 8 Observation: 18 22 26 33 14 28 30 52 Determine the following:
a. The one-step-ahead forecast for period 9.
b. The one-step-ahead forecast that was made for period 6.
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Related Book For
Production And Operations Analysis
ISBN: 9781478623069
7th Edition
Authors: Steven Nahmias, Tava Lennon Olsen
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