Question
3. Marie Bain is the production manager at a company that manufactures hot water heaters. Marie needs a demand forecast for the next few years
3. Marie Bain is the production manager at a company that manufactures hot water heaters. Marie needs a demand forecast for the next few years to help decide whether to add new production capacity. The companys sales history (in thousands of units) is shown in the table below. Use exponential smoothing with trend adjustment to forecast demand for period 6. The initial forecast for period 1 was 11 units, the initial estimate of trend was 0. The smoothing constants are alpha = .3 and beta = .3
Period | Actual |
1 | 12 |
2 | 15 |
3 | 16 |
4 | 16 |
5 | 18 |
6 | 20 |
Please show work all and show formulas URGENT!!!!! Will rate well thank you:)
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