Q Monthly sales for a six month period are as follows: Month Sales Jan 18,000 Feb 22,000 16,000 Mar 18,000 Apr May 20,000 24,000 June Compute the sales forecast for July using the following approaches: (1) Four-month moving average; (2) Weighted three-month moving average using .50 for June, .30 for May and .20 for April; (3) Exponential smoothing with a (smoothing constant) equal to .40, assuming a February forecast of 18,000
Q Monthly sales for a six month period are as follows: Month Sales Jan 18,000 Feb 22,000 16,000 Mar 18,000 Apr May 20,000 24,000 June Compute the sales forecast for July using the following approaches: (1) Four-month moving average; (2) Weighted three-month moving average using .50 for June, .30 for May and .20 for April; (3) Exponential smoothing with a (smoothing constant) equal to .40, assuming a February forecast of 18,000
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Monthly sales for a six month period are as follows:
|
Month |
Sales |
|
Jan |
18,000 |
|
Feb |
22,000 |
|
Mar |
16,000 |
|
Apr |
18,000 |
|
May |
20,000 |
|
June |
24,000 |
Compute the sales forecast for July using the following approaches:
(1) Four-month moving average;
(2) Weighted three-month moving average using .50 for June, .30 for May and .20 for April;
(3) Exponential smoothing with α (smoothing constant) equal to .40, assuming a February forecast of 18,000
Transcribed Image Text:Q Monthly sales for a six month period are as follows:
Month
Sales
Jan
18,000
22,000
16,000
Feb
Mar
Apr
Мay
18,000
20,000
24,000
June
Compute the sales forecast for July using the following approaches:
(1) Four-month moving average;
(2) Weighted three-month moving average using .50 for June, .30 for May and .20 for April;
(3) Exponential smoothing with a (smoothing constant) equal to .40, assuming a February forecast
of 18,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman