Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. The following data shows the sales of a product for a period of six months. Period (Month) Actual Sale of product 1 800 2

5. The following data shows the sales of a product for a period of six months. Period (Month) Actual Sale of product 1 800 2 900 3 1100 4 1250 5 1350 6 1410 Answer the following questions: (a) Use 2 months moving average forecasting method to forecast the sales of the product from 3rd month till 6th month. (b) Use exponential smoothing method (using alpha=0.9) to forecast the sales of the product from 3rd month till 6th month. (c) Compare whether there is any difference in the forecasting accuracy of the methods and Comment.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Real Estate Principles A Value Approach

Authors: David C Ling, Wayne Archer

5th edition

77836367, 978-0077836368

More Books

Students also viewed these Economics questions

Question

The background knowledge of the interpreter

Answered: 1 week ago