If the forecasted demand for the week of August 31 is 360 and α = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). Week Of Pints Used Forecast for this Date August 31 360 360 September 7 389 360.00 September 14 412 365.80 September 21 383 375.04375.04 September 28 366 376.63376.63 October 5 374 nothing

If the forecasted demand for the week of August 31 is 360 and α = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). Week Of Pints Used Forecast for this Date August 31 360 360 September 7 389 360.00 September 14 412 365.80 September 21 383 375.04375.04 September 28 366 376.63376.63 October 5 374 nothing

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 28P: The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present...

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Concept explainers

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.

Question

100%

c) If the forecasted demand for the week of August 31 is

360

and

0.20,

using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places).

Week Of	Pints Used	Forecast for this Date
August 31	360	360
September 7	389	360.00

September 14

412

365.80

September 21

383

375.04375.04

September 28

366

376.63376.63

October 5

374

nothing

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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c) If the forecasted demand for the week of August 31 is 345 and α = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places).