The owner of a firm gathered the data from last year's sales in each month. He wants to forecast this year'smonthly sales using the data of the same month last year.Complete the data on the table by considering the forecasting method indicated in each column. Show yoursolution.2021 actual3-month Weighted ExponentialMovingAverage*2021sales (inNaïveMonthforecastedMovingSmoothinghundredforecastingsalesAveragea = 0.80thousand)JanuaryFebruary541.1.6.32.2.March773.1.1.3.AprilMay454.2.2.4.355.3.3.5.June24.4.July55.5.*For WMA, consider the following weights: 0.5 (same month last year - n), 0.3 (n-1), 0.2 (n-2)

Forecasting means predicting in advance what would be the estimated sales of future periods by…

Answered: omplete the data on the table by…

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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omplete the data on the table by considering the forecasting method indicated in each column. Show you plution. 2021 actual 2021 3-month Weighted Exponential sales (in Naïve Month forecasted Moving Moving Smoothing