USE AND SHOW EXCEL FORMULAS

Daily demand for marigold flowers at a large garden store is shown below: Using Excel, compute a. A three-period moving average. b. A five-period moving average. c. A three-period weighted moving average with weights 5, 3 and 2, where 5 is the weight of the most recent demand point, and 2 the weight of the oldest demand point. (Consider using the = AVERAGE() and = SUMPRODUCT() functions in Excel). Springfield Flowers sold the following number of lilies daring the last two weeks: Develop a spreadsheet to answer the following questions: a. Calculate forecast of the above demand using four-period and five-period moving average. (Calculate a forecast for all possible days, not just day 15). b. Graph these forecasts and the original data using Excel. What does the graph show? c. How can you tell which of the above forecasts is the best? Using the data from Springfield Flowers in problem 2 above, prepare exponentially smoothed forecasts for the following cases: a. a = 2 and F_1 = 270 b. a = 3 and F_1 = 270