Answered: TIME PERIOD, t ACTUAL FORECAST DEMAND,…

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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Question

Consider the following actual (At
) and forecast
(Ft
) demand levels for a commercial multiline telephone at
Office Max:

The first forecast, F1, was derived by observing A1 and setting
F1 equal to A1. Subsequent forecast averages were derived
by exponential smoothing. Using the exponential smoothing
method, find the forecast for time period 5. (Hint: You need
to first find the smoothing constant, a.)

TIME
PERIOD, t
ACTUAL
FORECAST
DEMAND, A,
DEMAND, F,
1
50
50
2
42
50
3
56
48
4
46
50

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