Boi’s Car Rentals has been doing great business since acquiring a major North American car rental label. In preparation for the World Peace Summit slated for next month, they need to project their demand for May. The business’ historic data is listed below:MonthsNov.Dec.Jan.Feb.Mar.AprilQuantity373640424743Based on the above data calculate the demand for May using a five-month moving averageCalculate the forecast for May based on a THREE month weighted moving average applied to the following past demand data and using the weights: 4, 3, 2 (largest weight is for most recent data)?Using the exponential forecasting technique with a smoothing constant value of 0.2 and an initial value of 40, forecast the number of cars that will be demanded for May.

Forecasting is the process of predicting future demand based on previous demand and information.

Answered: Based on the above data calculate the…

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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Boi’s Car Rentals has been doing great business since acquiring a major North American car rental label. In preparation for the World Peace Summit slated for next month, they need to project their demand for May. The business’ historic data is listed below:

Months	Nov.	Dec.	Jan.	Feb.	Mar.	April
Quantity	37	36	40	42	47	43

Based on the above data calculate the demand for May using a five-month moving average
Calculate the forecast for May based on a THREE month weighted moving average applied to the following past demand data and using the weights: 4, 3, 2 (largest weight is for most recent data)?

Using the exponential forecasting technique with a smoothing constant value of 0.2 and an initial value of 40, forecast the number of cars that will be demanded for May.

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