Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A small company gathered sales data over the last 7 months as follows: Month Sales January 2 5 2 February 2 0 4 March 2

A small company gathered sales data over the last 7 months as follows:
Month Sales
January 252
February 204
March 228
April 216
May 249
June 264
July 267
August
Download CSV
Do not round answers.
a) What is the 3-month moving average forecast for August?
Correct
b) What is the 2-month weighted moving average forecast for April using weights 3 and 2? Assign higher weight to the most recent period.
Correct
c) Given that the exponentially smoothed forecast for February is 252, what is the simple exponential smoothing forecast for April with
\alpha
=
0.3
?

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

Management Today

Authors: Terri A. Scandura, Kim Gower

1st Edition

1506385877, 978-1506385877

More Books

Students also viewed these General Management questions

Question

=+ (c) Write out (8.56) explicitly for the case s = 2.

Answered: 1 week ago

Question

Explain the nature of human resource management.

Answered: 1 week ago

Question

Write a note on Quality circles.

Answered: 1 week ago

Question

Describe how to measure the quality of work life.

Answered: 1 week ago

Question

4. What are the current trends in computer software platforms?

Answered: 1 week ago