Sales of the Crown Gems have been increasing over the past five years. The operations manager has estimated sales in 2017 to be 410 Crown Gems. Using exponential smoothing with a weight of α = 0.30, develop forecasts for 2017 through 2022. Year Sales Forecast 2016 450 2017 495 2018 518 2019 563 2021 584 2022
Sales of the Crown Gems have been increasing over the past five years. The operations manager has estimated sales in 2017 to be 410 Crown Gems. Using exponential smoothing with a weight of α = 0.30, develop forecasts for 2017 through 2022. Year Sales Forecast 2016 450 2017 495 2018 518 2019 563 2021 584 2022
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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- Sales of the Crown Gems have been increasing over the past five years. The operations manager has estimated sales in 2017 to be 410 Crown Gems. Using exponential smoothing with a weight of α = 0.30, develop forecasts for 2017 through 2022.
Year |
Sales |
Forecast |
2016 |
450 |
|
2017 |
495 |
|
2018 |
518 |
|
2019 |
563 |
|
2021 |
584 |
|
2022 |
|
|
2. Advise Crown Gems of the benefits associated with this method of forecasting.
3. Caution the manager on the limitations associated with your forecast.
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