Answered: YEAR SALES (At) FORECAST (Ft) 1 450 410…

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

Sales of Volkswagen’s popular Beetle have grown steadily at auto dealerships in
Nevada during the past 5 years (see table below). The sales manager had predicted
before the new model was introduced that first year sales would be 410 VWs.
YEAR SALES (At) FORECAST (Ft)
1 450 410
2 495
3 518
4 563
5 584
6 ?

a. Using exponential smoothing with a weight of α = 0.30, develop forecasts for years
2 through 6?
b. Calculate the MAD for your data?

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