You are given the following actual demand values for the past 18 months. Using the exponential smoothing forecasting technique with an Alpha of 0.34, determine the forecast for time period 20 (January): Month June July August September October November December January February March April May June July August September October November Time 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Actual Demand Forecast 58 52 55 58 47 46 55 57 47 53 42 45 52 47 42 46 52 57 58.00 55.96 55.63 56.44 53.23 50.77 52.21 53.84 51.51 52.02 48.61 47.38 48.95 48.29 46.15 46.10 48.11
You are given the following actual demand values for the past 18 months. Using the exponential smoothing forecasting technique with an Alpha of 0.34, determine the forecast for time period 20 (January): Month June July August September October November December January February March April May June July August September October November Time 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Actual Demand Forecast 58 52 55 58 47 46 55 57 47 53 42 45 52 47 42 46 52 57 58.00 55.96 55.63 56.44 53.23 50.77 52.21 53.84 51.51 52.02 48.61 47.38 48.95 48.29 46.15 46.10 48.11
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...
Related questions
Question
Transcribed Image Text:You are given the following actual demand values for the past 18 months. Using the
exponential smoothing forecasting technique with an Alpha of 0.34, determine the forecast
for time period 20 (January):
Month
June
July
August
September
October
November
December
January
February
March
April
May
June
July
August
September
October
November
Time
1
2
3
4
6
7
8
9
10
11
12
13
14
15
16
17
18
Actual Demand Forecast
58
52
55
58
47
46
55
57
47
53
42
45
52
47
42
46
52
57
58.00
55.96
55.63
56.44
53.23
50.77
52.21
53.84
51.51
52.02
48.61
47.38
48.95
48.29
46.15
46.10
48.11
Transcribed Image Text:51.13
53.13
O 57
48.11
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.