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You have a food truck business Indianapolis. You would like to get a sense for how much you are likely to sell in the next
You have a food truck business Indianapolis. You would like to get a sense for how much you are likely to sell in the next year of business. To come up with your forecast, you start by identifying that you will have 2 food trucks in Indianapolis. You estimate that each food truck will be seen by 1000 people per day on weekends and 500 people per day on weekdays based on the prime locations you have lined up for the trucks. Based on your experience, approximately 1 out of every 20 people who pass your food trucks purchase a meal. This suggests each truck should be able to sell 225 meals per week. On average these food trucks will be open an average of 49 weeks per year. Taken together, you use these numbers to estimate an annual demand forecast of 22,050 meals sold in the next year. What approach was used to come up with this forecast? Note: this question does not require you to do any math. Group of answer choices Exponential Smoothing Moving Average Top-Down Bottom-Up
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