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Sales of the Flying Flintmobile has been increasing over the past five years. The operations manager has estimated sales in 2017 to be 410 Flying Flintmobiles. Using exponential smoothing with a weight of α = 0.30, forecasts are developed for 2017 through 2022. Year          Sales     Forecast 2016        450       N/A 2017       495       410 (given) 2018       518       (0.3 x 495)+(0.7 x 410) = 435.5 2019       563       (0.3x518)+(0.7x435.5) = 460.25 2020       584       (0.3x563)+(0.7x460.25) = 491.075 2021                     (0.3x584)+(0.7x491.075) = 518.9525

Sales of the Flying Flintmobile has been increasing over the past five years. The operations manager has estimated sales in 2017 to be 410 Flying Flintmobiles. Using exponential smoothing with a weight of α = 0.30, forecasts are developed for 2017 through 2022. Year          Sales     Forecast 2016        450       N/A 2017       495       410 (given) 2018       518       (0.3 x 495)+(0.7 x 410) = 435.5 2019       563       (0.3x518)+(0.7x435.5) = 460.25 2020       584       (0.3x563)+(0.7x460.25) = 491.075 2021                     (0.3x584)+(0.7x491.075) = 518.9525

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Sales of the Flying Flintmobile has been increasing over the past five years. The operations

manager has estimated sales in 2017 to be 410 Flying Flintmobiles. Using exponential smoothing

with a weight of α = 0.30, forecasts are developed for 2017 through 2022.

Year          Sales     Forecast

2016        450       N/A

2017       495       410 (given)

2018       518       (0.3 x 495)+(0.7 x 410) = 435.5

2019       563       (0.3x518)+(0.7x435.5) = 460.25

2020       584       (0.3x563)+(0.7x460.25) = 491.075

2021                     (0.3x584)+(0.7x491.075) = 518.9525

 

1. Advise Flying Flintmobile of the benefits associated with this method of forecasting.

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