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a.Using a simple three-month moving average, make a forecast for this month. Note: Round your answer to the nearest whole number. Forecast for this month 362 units

a.Using a simple three-month moving average, make a forecast for this month. Note: Round your answer to the nearest whole number. Forecast for this month 362 units

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Actual demand for a product for the past three months was: 404 units 355 units 326 units Three months ago Two months ago Last month a. Using a simple three-month moving average, make a forecast for this month. Note: Round your answer to the nearest whole number. Forecast for this month b. If 380 units were actually demanded this month, what would your forecast be for next month, again using a three-month moving average? Note: Round your answer to the nearest whole number. Forecast for the next month 362 units Forecast for this month 354 units c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 458 units and the smoothing constant was 0.20? Note: Round your answer to the nearest whole number. 447 units
Transcribed Image Text:Actual demand for a product for the past three months was: 404 units 355 units 326 units Three months ago Two months ago Last month a. Using a simple three-month moving average, make a forecast for this month. Note: Round your answer to the nearest whole number. Forecast for this month b. If 380 units were actually demanded this month, what would your forecast be for next month, again using a three-month moving average? Note: Round your answer to the nearest whole number. Forecast for the next month 362 units Forecast for this month 354 units c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 458 units and the smoothing constant was 0.20? Note: Round your answer to the nearest whole number. 447 units
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