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Three months ago Two months ago Last month 400 units 350 units 320 units a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for this month 357 units b. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month moving average? (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for the next month 320 units c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.30? (Round your answer to the nearest whole number.) Answer is complete but not entirely correct. Forecast for this month 337 8 units

Three months ago Two months ago Last month 400 units 350 units 320 units a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for this month 357 units b. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month moving average? (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for the next month 320 units c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.30? (Round your answer to the nearest whole number.) Answer is complete but not entirely correct. Forecast for this month 337 8 units

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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Three months ago Two months ago 400 units 350 units Last month 320 units a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for this month 357 units b. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month moving average? (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for the next month 320 units c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.30? (Round your answer to the nearest whole number.) Answer is complete but not entirely correct. Forecast for this month 337 8 units
Transcribed Image Text:Three months ago Two months ago 400 units 350 units Last month 320 units a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for this month 357 units b. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month moving average? (Round your answer to the nearest whole number.) Answer is complete and correct. Forecast for the next month 320 units c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.30? (Round your answer to the nearest whole number.) Answer is complete but not entirely correct. Forecast for this month 337 8 units
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