Question
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.)
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