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The Toro Cutlery Company has collected monthly sales information below: MONTH SALES MONTH SALES MONTH SALES January 24,000 May 81,000 September 29,000 February 21,000 June
The Toro Cutlery Company has collected monthly sales information below: MONTH SALES MONTH SALES MONTH SALES January 24,000 May 81,000 September 29,000 February 21,000 June 29,000 October 103,000 March 37,000 July 82,000 November 86,000 April 105,000 August 51,000 December 100,000 The company is examining two forecasting methods, moving average and exponential smoothing for forecasting sales. a. What will the forecast be for January the following year using a three-, four-, and five-month moving averages? Do not round intermediate calculations. Round your answers to the nearest whole number. Forecast (January, 3-month MA) : Forecast (January, 4-month MA): Forecast (January, 5-month MA): b. What will the forecast be for January the following year using exponential smoothing with a = 0.6? Assume the forecast for February this year is 24,000. Do not round intermediate calculations. Round your answer to the nearest whole number
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