Answered step by step
Verified Expert Solution
Question
1 Approved Answer
UDF is trying to forecast Toilet Paper sales. They have data on the multi-packs from previous years that they want to use to try to
UDF is trying to forecast Toilet Paper sales. They have data on the multi-packs from previous years that they want to use to try to figure out what sales will be this year. In 2020 they sold 15,000, in 2019 they sold 8,000, and in 2018 they sold 7,800. They know that the data in 2020 is not truly reflective due to COVID hoarding and they don't have data complied yet on 2021, so they elect to weight the data they do have with t-1 at 20%, t-2 at 30% and t-3 at 50%. Using a weighted average forecasting model, how much would they expect to sell coming up year? Group of answer choices 9,300 packs 11,460 packs 10,267 packs 5,000 packs
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started