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The weekly sales (in dollars) for a particular brand of ice cream for a chain of grocery stores located in Melbourne, Australia, follows. Week Sale
The weekly sales (in dollars) for a particular brand of ice cream for a chain of grocery stores located in Melbourne, Australia, follows.
Week | Sale ($) |
1 | 200 |
2 | 325 |
3 | 121 |
4 | 630 |
5 | 500 |
- Use a four-week moving average to develop a forecast for week 6. (2 marks)
[Answer and show workings here]
- Use exponential smoothing with a smoothing constant of =0.7 to develop a forecast for week 6. (6 marks)
[Answer and show workings here]
- Which of the two methods do you prefer and why? (4 marks)
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