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 have been 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. Caution the manager on the limitations associated with your forecast.
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 have been 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. Caution the manager on the limitations associated with your forecast.
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 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 have been 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. Caution the manager on the limitations associated with your forecast.
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