A pizza chain has had sales for take-out food over the last four evenings—Monday, Tuesday, Wednesday, and Thursday—of 29, 25, 35, and 30 pizzas, respectively.What would be their forecast for Friday using an exponential smoothing forecastingapproach? Use α = 0.2 and a forecast for Monday of 28.
A pizza chain has had sales for take-out food over the last four evenings—Monday, Tuesday, Wednesday, and Thursday—of 29, 25, 35, and 30 pizzas, respectively.What would be their forecast for Friday using an exponential smoothing forecastingapproach? Use α = 0.2 and a forecast for Monday of 28.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 6SC
Related questions
Question
A pizza chain has had sales for take-out food over the last four evenings—
Monday, Tuesday, Wednesday, and Thursday—of 29, 25, 35, and 30 pizzas, respectively.
What would be their forecast for Friday using an exponential smoothing forecasting
approach? Use α = 0.2 and a forecast for Monday of 28.
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 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning