A company is introducing reusable straws in the market on the 1st of January 2022. They estimate the total market for reusable straws is approximately 3 million per year. The company expects to sell 500000 straws in the first year. There is a competitor already in the market whose sales per year is 1 million straws per year. Your group have been hired as consultants to answer the following questions: What forecasting techniques should the company use for a) sales this year b) sales next year and c) sales in the next five years? Please justify your recommendations. Please provide forecast figures from year 2 to year 5. I want step by step calculation for exponential smoothing for the year 2 to 5 forecast.

A company is introducing reusable straws in the market on the 1st of January 2022. They estimate the total market for reusable straws is approximately 3 million per year. The company expects to sell 500000 straws in the first year. There is a competitor already in the market whose sales per year is 1 million straws per year. Your group have been hired as consultants to answer the following questions: What forecasting techniques should the company use for a) sales this year b) sales next year and c) sales in the next five years? Please justify your recommendations. Please provide forecast figures from year 2 to year 5. I want step by step calculation for exponential smoothing for the year 2 to 5 forecast.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 29P: The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building...

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