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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

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

Practical Management Science
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 owner of a firm gathered the data from last year's sales in each month. He wants to forecast this year's monthly 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 your solution. 2021 actual 3-month Weighted Exponential Moving Average* 2021 sales (in Naïve Month forecasted Moving Smoothing hundred forecasting sales Average a = 0.80 thousand) January February 5 4 1. 1. 6. 3 2. 2. March 7 7 3. 1. 1. 3. April May 4 5 4. 2. 2. 4. 3 5 5. 3. 3. 5. June 2 4. 4. July 5 5. 5. *For WMA, consider the following weights: 0.5 (same month last year - n), 0.3 (n-1), 0.2 (n-2)
Transcribed Image Text:The owner of a firm gathered the data from last year's sales in each month. He wants to forecast this year's monthly 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 your solution. 2021 actual 3-month Weighted Exponential Moving Average* 2021 sales (in Naïve Month forecasted Moving Smoothing hundred forecasting sales Average a = 0.80 thousand) January February 5 4 1. 1. 6. 3 2. 2. March 7 7 3. 1. 1. 3. April May 4 5 4. 2. 2. 4. 3 5 5. 3. 3. 5. June 2 4. 4. July 5 5. 5. *For WMA, consider the following weights: 0.5 (same month last year - n), 0.3 (n-1), 0.2 (n-2)
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