In the Petroco Service Station problem, for the exponentially smoothed forecast withan a value of .30, compute the mean absolute deviation (MAD) via Excel and/or POM-QM. It is (type number only, two decimals)158.10 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)MonthOctoberNovemberDecemberJanuaryFebruaryMarchAprilMayJuneJuly733.25Gasoline Demanded (gal.)8007256305006456907308101,200980

Forecasting is a technique that enables a company to ascertain future projections based on previous…

Answered: In the Petroco Service Station problem,…

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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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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In the Petroco Service Station problem, for the exponentially smoothed forecast with an a value of .30, compute the mean absolute deviation (MAD) via Excel and/or POM- QM. It is (type number only, two decimals) 158.10