A forecasting method used to predict can opener sales applies the following set of weights to the last five periods of data: .1, .1, .2, .2, .4 (with .4 being applied to the most recent observation). Observed values of can opener sales arePeriod:                1     2     3      4     5     6      7      8Observation:     18   22   26    33   14   28    30    52Determine the following:a. The one-step-ahead forecast for period 9.b. The one-step-ahead forecast that was made for period 6.

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A: Note: I have answered for questions 1 to 3. Kindly post the remaining questions separately. 1)…

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A: Holt-Winter’s multiplicative method is a forecasting technique that considers both trend and…

Q: Ed Rogers owns an appliance store. Sales data on a particular model of a DVD player for the past six…

A: Absolute Error =  | Actual sales - Forecast | MAD = Average of Absolute Error

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A:

Q: Hair dryers have sold 100, 110, 120, and 130 units at Walgreens stores in Youngstown, Ohio, during…

A: a) 3-month moving average:    =110 + 120 + 1303= 120 Dryers.

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A: Find the Given details below:

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A: Absolute Error = Sales- ForecastMAD = ∑Absolute ErrornWhere n = No. of periods

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A: Below is the solution:-

Q: (5000 S) Assume that the initial forecast for February is 30.0 (in $ thousands) and the initial…

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A: WEEK−5−4−3−2−112345678910111213Atlanta463532543433463633552820584536255541Boston59264841333534434346…

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Q: O 1031

A: GivenLAST YEARTHIS…

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A: Given data is

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.