Question
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000)Units Feb. 14 Mar. 20 Apr.
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows:
Month | Sales (000)Units |
Feb. | 14 |
Mar. | 20 |
Apr. | 11 |
May. | 22 |
Jun. | 21 |
Jul. | 25 |
Aug. | 16 |
b. Forecast September sales volume using each of the following:
(1) A linear trend equation.(Round your intermediate calculations and final answer to 2 decimal places.) Yt thousands
(2) A five-month moving average. (Round your answer to 2 decimal places.)
Moving average thousands
(3) Exponential smoothing with a smoothing constant equal to .20, assuming a March forecast of 17(000). (Round your intermediate forecast values and final answer to 2 decimal places) Forecast thousands
(4) The naive approach.
Naive approach thousands
(5) A weighted average using .70 for August, .10 for July, and .20 for June. (Round your answer to 2 decimal places.)
Weighted average thousands
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