Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are at the end of November and you want to forecast sales for December. What kind of information can you find in the text?
You are at the end of November and you want to forecast sales for December. What kind of information can you find in the text? You are at the end of November: meaning t=November You want to forecast sales for December: t 1=December and you are interested in Ft 1. "...the trend analysis through October has been 10 additional gallons of product sold per month.", meaning: October = t-1 so that Tt-1=10 "...The average level estimated from the demands up to October have been 60 gallons per month.", meaning: the level L t-1=60. "...The demand for November was 68 gallons.", meaning: Dt=68. The smoothing parameters are alpha=0.2 (level) and beta=0.1 (trend)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To forecast sales for December Ft1 you can use the HoltWinters method with expon...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