FORCASTING using the data below can you answer the question: Month Sales Jan-16 747 Feb-16 697 Mar-16 1014 Apr-16 1126 May-16 1105 Jun-16 1450 Jul-16 1639 Aug-16 1711 Sep-16 1307 Oct-16 1223 Nov-16 975 Dec-16 953 Jan-17 1024 Feb-17 928 Mar-17 1442 Apr-17 1371 May-17 1536 Jun-17 2004 Jul-17 1854 Aug-17 1951 Sep-17 1516 Oct-17 1642 Nov-17 1166 Dec-17 1106 Jan-18 1189 Feb-18 1209 Mar-18 1754 Apr-18 1843 May-18 1769 Jun-18 2207 Jul-18 2471 Aug-18 2288 Sep-18 1867 Oct-18 1980 Nov-18 1418 Dec-18 1333 Jan-19 1333 Feb-19 1370 Mar-19 2142 Apr-19 2138 May-19 2078 Jun-19 2960 Jul-19 2616 Aug-19 2861 Sep-19 2237 Oct-19 2225 Nov-19 1590 Dec-19 1659 Jan-20 1613 Feb-20 1605 Mar-20 2349 Apr-20 2468 May-20 2532 Jun-20 3127 Jul-20 3288 Aug-20 3285 Sep-20 2485 Oct-20 2723 Nov-20 1835 Dec-20 1894 Consider five years of monthly profit for a company Discuss whether a simple exponential smoothing model works well with this data or not. i am not sure how to answer this question.
FORCASTING using the data below can you answer the question: Month Sales Jan-16 747 Feb-16 697 Mar-16 1014 Apr-16 1126 May-16 1105 Jun-16 1450 Jul-16 1639 Aug-16 1711 Sep-16 1307 Oct-16 1223 Nov-16 975 Dec-16 953 Jan-17 1024 Feb-17 928 Mar-17 1442 Apr-17 1371 May-17 1536 Jun-17 2004 Jul-17 1854 Aug-17 1951 Sep-17 1516 Oct-17 1642 Nov-17 1166 Dec-17 1106 Jan-18 1189 Feb-18 1209 Mar-18 1754 Apr-18 1843 May-18 1769 Jun-18 2207 Jul-18 2471 Aug-18 2288 Sep-18 1867 Oct-18 1980 Nov-18 1418 Dec-18 1333 Jan-19 1333 Feb-19 1370 Mar-19 2142 Apr-19 2138 May-19 2078 Jun-19 2960 Jul-19 2616 Aug-19 2861 Sep-19 2237 Oct-19 2225 Nov-19 1590 Dec-19 1659 Jan-20 1613 Feb-20 1605 Mar-20 2349 Apr-20 2468 May-20 2532 Jun-20 3127 Jul-20 3288 Aug-20 3285 Sep-20 2485 Oct-20 2723 Nov-20 1835 Dec-20 1894 Consider five years of monthly profit for a company Discuss whether a simple exponential smoothing model works well with this data or not. i am not sure how to answer this question.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
FORCASTING
using the data below can you answer the question:
|
Month |
Sales |
|
Jan-16 |
747 |
|
Feb-16 |
697 |
|
Mar-16 |
1014 |
|
Apr-16 |
1126 |
|
May-16 |
1105 |
|
Jun-16 |
1450 |
|
Jul-16 |
1639 |
|
Aug-16 |
1711 |
|
Sep-16 |
1307 |
|
Oct-16 |
1223 |
|
Nov-16 |
975 |
|
Dec-16 |
953 |
|
Jan-17 |
1024 |
|
Feb-17 |
928 |
|
Mar-17 |
1442 |
|
Apr-17 |
1371 |
|
May-17 |
1536 |
|
Jun-17 |
2004 |
|
Jul-17 |
1854 |
|
Aug-17 |
1951 |
|
Sep-17 |
1516 |
|
Oct-17 |
1642 |
|
Nov-17 |
1166 |
|
Dec-17 |
1106 |
|
Jan-18 |
1189 |
|
Feb-18 |
1209 |
|
Mar-18 |
1754 |
|
Apr-18 |
1843 |
|
May-18 |
1769 |
|
Jun-18 |
2207 |
|
Jul-18 |
2471 |
|
Aug-18 |
2288 |
|
Sep-18 |
1867 |
|
Oct-18 |
1980 |
|
Nov-18 |
1418 |
|
Dec-18 |
1333 |
|
Jan-19 |
1333 |
|
Feb-19 |
1370 |
|
Mar-19 |
2142 |
|
Apr-19 |
2138 |
|
May-19 |
2078 |
|
Jun-19 |
2960 |
|
Jul-19 |
2616 |
|
Aug-19 |
2861 |
|
Sep-19 |
2237 |
|
Oct-19 |
2225 |
|
Nov-19 |
1590 |
|
Dec-19 |
1659 |
|
Jan-20 |
1613 |
|
Feb-20 |
1605 |
|
Mar-20 |
2349 |
|
Apr-20 |
2468 |
|
May-20 |
2532 |
|
Jun-20 |
3127 |
|
Jul-20 |
3288 |
|
Aug-20 |
3285 |
|
Sep-20 |
2485 |
|
Oct-20 |
2723 |
|
Nov-20 |
1835 |
|
Dec-20 |
1894 |
Consider five years of monthly profit for a company
- Discuss whether a simple exponential smoothing model works well with this data or not.
i am not sure how to answer this question.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education