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The table below shows the sales figures for a brand of shoe over the last 12 months. Months January February March April May June Sales 69 75 86 92 95 100 108 115 125 131 140 150 July August September October November December a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. iii. Exponential Smoothing when a= .6 and the forecast for March is 350. iv. Determine which of the three forecasting technique is the most accurate using

The table below shows the sales figures for a brand of shoe over the last 12 months. Months January February March April May June Sales 69 75 86 92 95 100 108 115 125 131 140 150 July August September October November December a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. iii. Exponential Smoothing when a= .6 and the forecast for March is 350. iv. Determine which of the three forecasting technique is the most accurate using

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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The table below shows the sales figures for a brand of shoe over the last 12 months. Months January February March April May June July August September October Sales 69 75 86 92 95 100 108 115 125 131 140 150 November December a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. ii. A three period weighted moving average using weig of 1, 2 and 3. Assign the highest weight to the most recent data. iii. Exponential Smoothing when a= .6 and the forecast for March is 350. iv. Determine which of the three forecasting technique is the most accurate using MAD.
Transcribed Image Text:The table below shows the sales figures for a brand of shoe over the last 12 months. Months January February March April May June July August September October Sales 69 75 86 92 95 100 108 115 125 131 140 150 November December a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. ii. A three period weighted moving average using weig of 1, 2 and 3. Assign the highest weight to the most recent data. iii. Exponential Smoothing when a= .6 and the forecast for March is 350. iv. Determine which of the three forecasting technique is the most accurate using MAD.
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