Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Transcribed Image Text:A small company gathered sales data over the last 7 months as follows:
Month Sales
January 267
February 273
March
234
April
261
May
270
June
213
July
261
August
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Do not round answers.
a) What is the 3-month moving average forecast for May?
b) What is the 2-month weighted moving average forecast for April using weights 5 and
3? Assign higher weight to the most recent period.
c) Given that the exponentially smoothed forecast for February is 267, what is the
simple exponential smoothing forecast for April with a = = 0.2?
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