An electrical contractor's records during the last five weeks indicate the number of job requests: Week: Requests: 2. 3 4 5 27 25 21 24 29 Click here for the Excel Data File Predict the number of requests for week 6 using each of these methods: a. Naive. Number of requests b. A four-period moving average. (Round your answer to 2 decimal places.) Number of requests c. Exponential smoothing with a = 0.20. Use 26 for week 2 forecast. (Round your intermediate forecast values and final answers to 2 decimal places.) Number of Requests F3 F4 F5 F6

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.