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1. The Southern Pizza Parlor is a small restaurant. One of the customers' favorites is Southern Spicy Cheesy Pizza. Tim Owan, the manager, must forecast monthly demand for these special pizzas so that he can order the correct amount of pizza shells monthly. Based on records, the demand has been as follows: (Please see the table) a) Forecast the demand for Southern Spicy Cheesy Pizza for month 13-16, using the 3 and 4 period moving average method. Note: Round up all the forecast to the nearest hundredth. b) Forecast the demand for month 16, using weights of 0.5. c) Forecast the demand for month 10 to 16 using the exponential smoothing method with a = 0.3. d) Now, forecast the demand for month 10-16 using the exponential smoothing method with a = 0.6. How do they compare to that in part (c)?

1. The Southern Pizza Parlor is a small restaurant. One of the customers' favorites is Southern Spicy Cheesy Pizza. Tim Owan, the manager, must forecast monthly demand for these special pizzas so that he can order the correct amount of pizza shells monthly. Based on records, the demand has been as follows: (Please see the table) a) Forecast the demand for Southern Spicy Cheesy Pizza for month 13-16, using the 3 and 4 period moving average method. Note: Round up all the forecast to the nearest hundredth. b) Forecast the demand for month 16, using weights of 0.5. c) Forecast the demand for month 10 to 16 using the exponential smoothing method with a = 0.3. d) Now, forecast the demand for month 10-16 using the exponential smoothing method with a = 0.6. How do they compare to that in part (c)?

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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3 monthly 4 monthly moving FORECAST USING SIMPLE No. of Southern Spicy Cheesy Pizzas sold moving EXPONENTIAL SMOOTHING 0.3 smoothing 0.6 smoothing Months average average 0.5 constant constant 1. 620 2 530 625 4. 680 515 6. 601 7 678 591 520 10 675 11 689 12 691 13 14 15 16
Transcribed Image Text:3 monthly 4 monthly moving FORECAST USING SIMPLE No. of Southern Spicy Cheesy Pizzas sold moving EXPONENTIAL SMOOTHING 0.3 smoothing 0.6 smoothing Months average average 0.5 constant constant 1. 620 2 530 625 4. 680 515 6. 601 7 678 591 520 10 675 11 689 12 691 13 14 15 16
1. The Southern Pizza Parlor is a small restaurant. One of the customers' favorites is Southern Spicy Cheesy Pizza. Tim Owan, the manager, must forecast monthly demand for these special pizzas so that he can order the correct amount of pizza shells monthly. Based on records, the demand has been as follows: (Please see the table) a) Forecast the demand for Southern Spicy Cheesy Pizza for month 13-16, using the 3 and 4 period moving average method. Note: Round up all the forecast to the nearest hundredth. b) Forecast the demand for month 16, using weights of 0.5. c) Forecast the demand for month 10 to 16 using the exponential smoothing method with a = 0.3. d) Now, forecast the demand for month 10-16 using the exponential smoothing method with a = 0.6. How do they compare to that in part (c)? Please show your computations
Transcribed Image Text:1. The Southern Pizza Parlor is a small restaurant. One of the customers' favorites is Southern Spicy Cheesy Pizza. Tim Owan, the manager, must forecast monthly demand for these special pizzas so that he can order the correct amount of pizza shells monthly. Based on records, the demand has been as follows: (Please see the table) a) Forecast the demand for Southern Spicy Cheesy Pizza for month 13-16, using the 3 and 4 period moving average method. Note: Round up all the forecast to the nearest hundredth. b) Forecast the demand for month 16, using weights of 0.5. c) Forecast the demand for month 10 to 16 using the exponential smoothing method with a = 0.3. d) Now, forecast the demand for month 10-16 using the exponential smoothing method with a = 0.6. How do they compare to that in part (c)? Please show your computations
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