a. Using the following, forecast the sales for the months up to january the following year:- i. A simple three month moving average ii. A three period weighted moving average using weights of 1, 2, and 3. Assign the highest weight to the most recent data iii. Exponential smothing when α = .6 and the forecast for march is 350
a. Using the following, forecast the sales for the months up to january the following year:- i. A simple three month moving average ii. A three period weighted moving average using weights of 1, 2, and 3. Assign the highest weight to the most recent data iii. Exponential smothing when α = .6 and the forecast for march is 350
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter7: Nonlinear Optimization Models
Section: Chapter Questions
Problem 56P
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Question 1.
The table below shows the sales figure for a brand of shoe over the last 12 months.
Months | Sales |
January | 69 |
February | 75 |
March | 86 |
April | 92 |
May | 95 |
June | 100 |
July | 108 |
August | 115 |
September | 125 |
October | 131 |
November | 140 |
December | 150 |
a. Using the following, forecast the sales for the months up to january the following year:-
i. A simple three month moving average
ii. A three period weighted moving average using weights of 1, 2, and 3. Assign the highest weight to the most recent data
iii. Exponential smothing when α = .6 and the forecast for march is 350
vi. Detemine which of the three
N.B. Only answer IV
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