A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use the exponential smoothing (let α=0.4 with an initial forecast for week 1 of 572) methods to forecast demand for week 13. Period 1 2 3 4 5 6 7 8 9 10 11 12 Sales 572 637 648 740 670 633 752 690 761 720 656 751 Obtain the exponential smoothing forecast. The forecast for week 13 =?is (Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) MAD MAPE ? ?%

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...

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A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use the exponential smoothing (let

α=0.4

with an initial forecast for week 1 of

572)

methods to forecast demand for week

13.