Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The owner of a convenience store near Salt Lake City in Utah has been tabulating weekly sales at the store, excluding gas. The accompanying table

The owner of a convenience store near Salt Lake City in Utah has been tabulating weekly sales at the store, excluding gas. The accompanying table shows a portion of the sales for 30 weeks. You can use EXCEL

Week

Sales

1

5494.7400

2

5632.4400

3

5413.1400

4

5613.0600

5

5498.8200

6

5610.0000

7

5388.6600

8

5281.5600

9

4929.6600

10

5113.2600

11

5140.8000

12

5528.4000

13

5216.2800

14

5177.5200

15

5027.5800

16

5335.6200

17

5097.9600

18

5018.4000

19

5073.4800

20

4986.7800

21

5163.2400

22

4821.5400

23

5213.2200

24

5492.7000

25

5136.7200

26

4965.3600

27

5137.7400

28

5461.0800

29

5118.3600

30

5310.1200

Use the 3-period moving average to forecast sales for the 31st week. (Do not round intermediate calculations. Round final answer to 2 decimal places.)

Use simple exponential smoothing with = 0.3 to forecast sales for the 31st week. (Do not round intermediate calculations. Round final answer to 2 decimal places.)

Report the performance measures for the techniques in parts a and b. (Do not round intermediate calculations. Round final answers to 2 decimal places.)

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_2

Step: 3

blur-text-image_3

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

Elementary Linear Algebra with Applications

Authors: Howard Anton, Chris Rorres

9th edition

471669598, 978-0471669593

More Books

Students also viewed these Mathematics questions