Question
Mron Sheu, the owner of the Chocolate Outlet Store, wants to forecast chocolate demand. Demand for the preceding four years is shown in the following
Mron Sheu, the owner of the Chocolate Outlet Store, wants to forecast chocolate demand. Demand for the preceding four years is shown in the following table:
YEAR | DEMAND (POUNDS) |
1 | 70,900 |
2 | 67,900 |
3 | 75,100 |
4 | 69,500 |
Forecast demand for Year 5 using a three-year moving average. Round your answer to the nearest whole number.
pounds
Forecast demand for Year 5 using a three-year weighted moving average using 0.20 for Year 4, 0.30 for Year 3, and 0.50 for Year 2. Round your answer to the nearest whole number.
pounds
Forecast demand for Year 5 using exponential smoothing with = 0.30, and assuming the forecast for Year 1 = 71,300. Do not round intermediate calculations. Round your answer to the nearest whole number.
pounds
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