Answered: e (ii) (iii) Exponential smoothing with…

e (ii) (iii) Exponential smoothing with an alpha of 0.4 (Assume Yr. 1 forecast = 805). A three-year moving average. A weighted average using .50 for year 4, .30 for year 3, and .20 for year 2.

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

Use microsoft excel spreadsheets to solve

The owner of Wine Sales & Service wants to forecast wine demand. Demand for the preceding four years is shown in the following table. Forecast demand for next year using:
(i)
Exponential smoothing with an alpha of 0.4 (Assume Yr. 1 forecast = 805).
(ii)
A three-year moving average.
(iii)
(iv)
(v)
A weighted average using .50 for year 4, .30 for year 3, and .20 for year 2.
A regression relationship or Trend Projection.
The naive approach.
Year
1
2
3
4
Demand (000 cases)
809
810
808
812

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