Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kate, manager of the 'Upton' restaurant forecasted the dinner covers for two months and has the following figures: Period Forecast Actual 1 220 275 2
Kate, manager of the 'Upton' restaurant forecasted the dinner covers for two months and has the following figures:
Period Forecast Actual
1 220 275
2 270 290
Calculate the smoothing constant with the given data.
Smoothing Constant = (Period2 Forecast - Period1Forecast)
(Period1Actual - Period1 Forecast)
Forecast month-3 dinner covers with the smoothing constant you calculated.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started