Answered: ACTUAL ACTUAL MONTH DEMAND MoNTH DEMAND…

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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Question

The following table contains the demand from the last 10 months:                                                                                                                                                                                                                                 a. Calculate the single exponential smoothing forecast for these data using an   of .30 and an initial forecast (F1) of 31.
b. Calculate the exponential smoothing with trend forecast for these data using an   of
.30, a   of .30, an initial trend forecast (T1) of 1, and an initial exponentially smoothed
forecast (F1) of 30.
c. Calculate the mean absolute deviation (MAD) for each forecast. Which is best?

ACTUAL
ACTUAL
MONTH
DEMAND
MoNTH
DEMAND
1
31
36
2
34
38
33
35
40
40
37
10
41

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