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The Scenario: From the previous year, the Broom Company sold the following number of cases of brooms per week. It can be assumed week
The Scenario: From the previous year, the Broom Company sold the following number of cases of brooms per week. It can be assumed week 1 is the first week of January and week 52 is the last week of December. Based on the number of cases sold last year, determine forecast values for the following year. Answer a through e below. a) What was the weekly average of Cases of Brooms Sold for the year provided? b) Which successive set of weeks (4 weeks = a set of 1 month) had the highest average Cases of Brooms Sold during the year? c) What is the average Cases of Brooms Sold in weeks 23 through 30 to forecast sales for week 31 for the coming year? d) What is the weighted average (successively from 23 to 30 = 0.2, 0.2, 0.15,0.15, 0.1, 0.1, 0.05, & 0.05) of Cases of Brooms Sold in weeks 23 through 30 to forecast sales for week 3 for the coming year? e) Considering the results at c) as an old forecast, along with an exponential smoothing factor of 0.175 (a = 0.175), determine the forecast for week 31 using the weighted average value for week 31 from d).
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