i. Three year moving average method ii. Six year moving average method iii. Single exponential smoothing method (smoothing constant = 0.2) iv. Single exponential smoothing method (smoothing constant = 0.05)
i. Three year moving average method ii. Six year moving average method iii. Single exponential smoothing method (smoothing constant = 0.2) iv. Single exponential smoothing method (smoothing constant = 0.05)
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
Following data set indicates the annual electricity consumption of Sri Lanka in Mega Watt Hours (MWh) from 1996 to 2022 (Table).
You are required to
following smoothing methods and recommend the most appropriate value.
i. Three year moving average method
ii. Six year moving average method
iii. Single exponential smoothing method (smoothing constant = 0.2)
iv. Single exponential smoothing method (smoothing constant = 0.05)
| Year | Electricity Consumption in MWh |
| 1996 | 1,588 |
| 1997 | 1,558 |
| 1998 | 1,753 |
| 1999 | 1,408 |
| 2000 | 1,310 |
| 2001 | 1,424 |
| 2002 | 1677 |
| 2003 | 1937 |
| 2004 | 1685 |
| 2005 | 1488 |
| 2006 | 1562 |
| 2007 | 1619 |
| 2008 | 1687 |
| 2009 | 1841 |
| 2010 | 1865 |
| 2011 | 1637 |
| 2012 | 1653 |
| 2013 | 1699 |
| 2014 | 1698 |
| 2015 | 1523 |
| 2016 | 1557 |
| 2017 | 1795 |
| 2018 | 1934 |
| 2019 | 2125 |
| 2020 | 2543 |
| 2021 | 2616 |
| 2022 | 3191 |
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