Answered: 1. Forecasting techniques e following…

1. Forecasting techniques e following set of data represents the quarterly changes in demand for an ite er the next 12 weeks. Week Demand Week Demand Week Demang

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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Question

Apply the exponential smoothing with alpha = 0.2 forecasting technique of the data to estimate the demand in week 13.

1. Forecasting techniques
The following set of data represents the quarterly changes in demand for an item
over the next 12 weeks.
Week
Demand
Week
Demand
Week
Demand
1
150
5
110
9.
180
130
6.
140
10
155
3
120
7
120
11
170
4
140
8.
145
12
180

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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