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1. Consider the following sales figures for the past five years. Year 1 2 3 4 5 Sales 135 142 150 145 160 (a) Use simple average to forecast sales for this year (year 6). (b) Use moving average with n = 2 to forecast sales for this year. (c) Use exponential smoothing with a = 0.1 and an initial forecast value of 150 to forecast sales for this year. (d) Use linear regression to forecast sales for this year.

1. Consider the following sales figures for the past five years. Year 1 2 3 4 5 Sales 135 142 150 145 160 (a) Use simple average to forecast sales for this year (year 6). (b) Use moving average with n = 2 to forecast sales for this year. (c) Use exponential smoothing with a = 0.1 and an initial forecast value of 150 to forecast sales for this year. (d) Use linear regression to forecast sales for this year.

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.CR: Chapter 1 Review
Problem 86CR
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1. Consider the following sales figures for the past five years. Year 12 3 45 Sales 135 142 150 145 160 (a) Use simple average to forecast sales for this year (year 6). (b) Use moving average with n = 2 to forecast sales for this year. (c) Use exponential smoothing with a = 0.1 and an initial forecast value of 150 to forecast sales for this year. (d) Use linear regression to forecast sales for this year. (e) Using mathematical evidence (SSE on forecasts for years 4 and 5), show which of the above methods is superior.
Transcribed Image Text:1. Consider the following sales figures for the past five years. Year 12 3 45 Sales 135 142 150 145 160 (a) Use simple average to forecast sales for this year (year 6). (b) Use moving average with n = 2 to forecast sales for this year. (c) Use exponential smoothing with a = 0.1 and an initial forecast value of 150 to forecast sales for this year. (d) Use linear regression to forecast sales for this year. (e) Using mathematical evidence (SSE on forecasts for years 4 and 5), show which of the above methods is superior.
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