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Sara manages one of the Albireds shoe lines, and is working to improve the group's forecasting capabilities so that production will more closely match actual demand (that's the goal, at least!). Work our the exponential smoothing with a smoothing constant equal to 0.2, (seed the model with a January forecast = 16,000). A weighted moving average using 0.6(t-1), 0.3(t-2) and 0.1(t-3)

Sara manages one of the Albireds shoe lines, and is working to improve the group's forecasting capabilities so that production will more closely match actual demand (that's the goal, at least!). Work our the exponential smoothing with a smoothing constant equal to 0.2, (seed the model with a January forecast = 16,000). A weighted moving average using 0.6(t-1), 0.3(t-2) and 0.1(t-3)

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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Sara manages one of the Albireds shoe lines, and is working to improve the group's forecasting capabilities so that production will more closely match actual demand (that's the goal, at least!).

Work our the exponential smoothing with a smoothing constant equal to 0.2, (seed the model with a January forecast = 16,000). A weighted moving average using 0.6(t-1), 0.3(t-2) and 0.1(t-3)

A Month 1 2 Jan 3 Feb 4 Mar 5 Apr 6 May 7 Jun 8 Jul 9 Aug 10 Sept 11 Oct 12 Nov 13 Dec B C Sales ('000 Units) 5-month Moving Average 16,000 19,000 18,000 15,000 20,000 18,000 22,000 20,000 19,000 22,000 24,000 23,000 17600 18000 18600 19000 19800 20200 21400
Transcribed Image Text:A Month 1 2 Jan 3 Feb 4 Mar 5 Apr 6 May 7 Jun 8 Jul 9 Aug 10 Sept 11 Oct 12 Nov 13 Dec B C Sales ('000 Units) 5-month Moving Average 16,000 19,000 18,000 15,000 20,000 18,000 22,000 20,000 19,000 22,000 24,000 23,000 17600 18000 18600 19000 19800 20200 21400
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