2. National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven- month period were as follows: Sales Month (000 units) Feb. 19 Mar. 18 Apr. May 15 20 Jun. 18 Jul. Aug. 22 20 a. Plot the monthly data. b. Forecast September sales volume using each of the following: • Naive approach • A three – month moving average (MA(3)) • A four – month moving average (MA(4)) • Exponential smoothing with a smoothing constant equal to 0.20, assuming a March forecast of 19(000)
2. National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven- month period were as follows: Sales Month (000 units) Feb. 19 Mar. 18 Apr. May 15 20 Jun. 18 Jul. Aug. 22 20 a. Plot the monthly data. b. Forecast September sales volume using each of the following: • Naive approach • A three – month moving average (MA(3)) • A four – month moving average (MA(4)) • Exponential smoothing with a smoothing constant equal to 0.20, assuming a March forecast of 19(000)
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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Transcribed Image Text:A weighted moving average using wl = 0.60; w2 = 0.30 and w3 = 0.10
Calculate MAD, MSE for each method and suggest the most appropriate method.
C.
Transcribed Image Text:2. National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-
month period were as follows:
Sales
Month
(000 units)
Feb.
19
Mar.
18
Apr.
15
May
20
Jun.
18
Jul.
22
Aug.
20
a. Plot the monthly data.
b. Forecast September sales volume using each of the following:
• Naive approach
• three – month moving average (MA(3))
• A four – month moving average (MA(4))
• Exponential smoothing with a smoothing constant equal to 0.20, assuming a
March forecast of 19(000)
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