2. Solve using Excel. The monthly sales for Telco Batteries, Inc., were as follows:MonthSalesJanuaryFebruaryMarchAprilMay2021151413June16JulyAugustSeptember171820October20November21December23a. Plot the monthly sales data. Do you observe any trend, cycles or random variations?b. Forecast January sales using each of the following:a. Naïve methodb. A 3-month moving averagec. A 6-month weighted moving average using 0.1, 0.1, 0.1, 0.2, 0.2 and 0.3 withthe heaviest weights applied to the most recent monthsd. Exponential smoothing using an x = 0.3 and a September forecast of 18.c. Compute the MAD and MAPE for the naïve method and 3-month moving average.

Forecasting is a technique that uses recorded data as inputs to make instructed estimates that are…

Answered: a. Plot the monthly sales data. Do you…

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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The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 350 370 410 381 371 378 a) The forecasted demand for the week of October 12 using a 3-week moving average = 376.67 pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.20, 0.35, and 0.45, using 0.45 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.)
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