The manager of the Petroco Service Station wants to forecast the demand for unleadedgasoline next month so that the proper number of gallons can be ordered from thedistributor. The owner has accumulated the following data on demand for unleadedgasoline from sales during the past 10 months. Compute an exponentially smoothedforecast with an a value of .30. According to the result from Excel and/or POM-QM,the forecast for the month of January would be (type number only, two decimals)MonthOctoberNovemberDecemberJanuaryFebruaryMarchAprilMayJuneJulyGasoline Demanded (gal.)8007256305006456907308101,200980 For the Petroco Service Station problem, what would your excel file thatshows exponentially smoothed forecasts with a values of .30 and .50 look like. Themean absolute deviation (MAD) computations of the two forecasts should be included inthe file.

Forecasting refers to predictions for future outcomes based on previous years' trends. In businesses…

Answered: For the Petroco Service Station…

Practical Management Science

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Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales during the past 10 months. Compute an exponentially smoothed forecast with an a value of .30. According to the result from Excel and/or POM-QM, the forecast for the month of January would be (type number only, two decimals) Month October November December January February March April May June July 733.25 Gasoline Demanded (gal.) 800 725 630 500 645 690 730 810 1,200 980
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For the Petroco Service Station problem, what would your excel file that shows exponentially smoothed forecasts with a values of .30 and .50 look like. The mean absolute deviation (MAD) computations of the two forecasts should be included the file.