Actual demand for a product for the past three months was:Three months ago400 unitsTwo months ago350 unitsLast month325 unitsUsing a simple three-month moving average, make a forecast for this month.Note: Round your answer to the nearest whole number. If 300 units were actually demanded this month, what would your forecast be for next month, again using a three-month moving average?Note: Round your answer to the nearest whole number. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.20?Note: Round your answer to the nearest whole number.

Month Actual demand3 months ago4002 months ago350Last month325

Answered: Actual demand for a product for the…

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

Actual demand for a product for the past three months was:

Using a simple three-month moving average, make a forecast for this month.

Note: Round your answer to the nearest whole number.
If 300 units were actually demanded this month, what would your forecast be for next month, again using a three-month moving average?

Note: Round your answer to the nearest whole number.
Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.20?

Note: Round your answer to the nearest whole number.