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a. Nalve. Number of requests . A four-perlod moving average. (Round your answer to 2 decimal places.) Number of requests

a. Nalve. Number of requests . A four-perlod moving average. (Round your answer to 2 decimal places.) Number of requests

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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An electrical contractor's records during the last five weeks indicate the number of job requests: Week: Requests: 1 2 3 5 25 27 25 26 27 Click here for the Excel Data File Predict the number of requests for week 6 using each of these methods: a. Naive. Number of requests b. A four-perlod moving average. (Round your answer to 2 decimal places.) Number of requests
Transcribed Image Text:An electrical contractor's records during the last five weeks indicate the number of job requests: Week: Requests: 1 2 3 5 25 27 25 26 27 Click here for the Excel Data File Predict the number of requests for week 6 using each of these methods: a. Naive. Number of requests b. A four-perlod moving average. (Round your answer to 2 decimal places.) Number of requests
c. Exponential smoothing with a = 0.25. Use 25 for week 2 forecast. (Round your intermediate forecast values and final answers to 2 decimal places.) F3 F4 F5 F6 Number of Requests
Transcribed Image Text:c. Exponential smoothing with a = 0.25. Use 25 for week 2 forecast. (Round your intermediate forecast values and final answers to 2 decimal places.) F3 F4 F5 F6 Number of Requests
Expert Solution
Step 1 Introduction:

Given data, 

Week  Requests
1 25
2 27
3 25
4 26
5 27

For the given data and as per the question, I would use three forecasting techniques, these are exponential smoothing, a four-period moving average and Naive forecast. These data/calculations are shown in the next section.

 

 

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