i. Three year moving average method ii. Six year moving average method iii. Single exponential smoothing method (smoothing constant = 0.2) iv. Single exponential smoothing method (smoothing constant = 0.05)
i. Three year moving average method ii. Six year moving average method iii. Single exponential smoothing method (smoothing constant = 0.2) iv. Single exponential smoothing method (smoothing constant = 0.05)
Purchasing and Supply Chain Management
6th Edition
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
ChapterC: Cases
Section: Chapter Questions
Problem 5.3SD: Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling...
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Question
Following data set indicates the annual electricity consumption of Sri Lanka in Mega Watt Hours (MWh) from 1996 to 2022 (Table).
You are required to
following smoothing methods and recommend the most appropriate value.
i. Three year moving average method
ii. Six year moving average method
iii. Single exponential smoothing method (smoothing constant = 0.2)
iv. Single exponential smoothing method (smoothing constant = 0.05)
Year | Electricity Consumption in MWh |
1996 | 1,588 |
1997 | 1,558 |
1998 | 1,753 |
1999 | 1,408 |
2000 | 1,310 |
2001 | 1,424 |
2002 | 1677 |
2003 | 1937 |
2004 | 1685 |
2005 | 1488 |
2006 | 1562 |
2007 | 1619 |
2008 | 1687 |
2009 | 1841 |
2010 | 1865 |
2011 | 1637 |
2012 | 1653 |
2013 | 1699 |
2014 | 1698 |
2015 | 1523 |
2016 | 1557 |
2017 | 1795 |
2018 | 1934 |
2019 | 2125 |
2020 | 2543 |
2021 | 2616 |
2022 | 3191 |
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