Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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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
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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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