Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Transcribed Image Text:A large Portland manufacturer wants to forecast demand for a piece of pollution-control equipment. A review of past sales (A₂), as shown below, indicates that an increasing trend is present. Smoothing
constants are assigned the values of α = 0.20 and ß = 0.4. The firm assumes the initial forecast for month 1 (F₁) was 9.00 units and the trend over that period T, was 2.00 units.
Using trend-adjusted exponential smoothing, Forecasts (Ft), Trend (T₂), and Forecasts Including Trend (FIT) for months 1 through 4 have already been developed and are provided below. Continue with
the process and determine F, Tt, and FIT, for months 5 and 6 (round your responses to two decimal places):
Month
(t)
1
2
3
4
5
6
7
8
9
10
Actual Demand
(A₂)
10.0
18.0
24.0
20.0
22.0
21.0
32.0
28.0
35.0
Forecast
(F₂)
9.00
10.80
13.78
17.70
Trend
(T₂)
2.00
1.92
2.34
2.97
Forecast Including
Trend (FIT₂)
11.00
12.72
16.12
20.67
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