Question
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000)Units Feb. 15 Mar. 23 Apr.
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000)Units Feb. 15 Mar. 23 Apr. 12 May. 25 Jun. 19 Jul. 28 Aug. 26 Click here for the Excel Data File a. Forecast September sales volume using each of the following: (1) The naive approach. (2) A five-month moving average. (Round your answer to 2 decimal places.) (3) A weighted average using 0.45 for August, 0.20 for July, and 0.35 for June. (Round your answer to 2 decimal places.) (4) Exponential smoothing with a smoothing constant equal to 0.20, assuming a March forecast of 14(000). (Round your intermediate forecast values and final answer to 2 decimal places.) (5) A linear trend equation. (Round your intermediate calculations and final answer to 2 decimal places.)
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