5-20 Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given
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5-20 Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given in Problem 5-17. Assume that last period’s forecast for year 1 is 5,000 bags to begin the procedure. Would you prefer to use, the exponential smoothing model or the weighted average model developed in Problem 5-17? Explain your answer.
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Quantitative Analysis For Management
ISBN: 9789332578692
12th Edition
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna
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