Part C3. The manager of a certain gasoline station wants to forecast the demand for the unleaded gasoline next month so that theproper number of gallons can be ordered from the distributor. The manager has accumulated the following data demand forunleaded gasoline from sales during the past eight months.MonthGasoline Demanded (gallons)Mar900Given that the forecast for March is 920.Apr755May650Jun550Jul625Aug730Sept820Oct1 100a. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.25.b. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.45.c. Plot the actual demand and the forecasts determined in part a and b on the same graph and compare them.d. Make a comparative analysis out of your answers in the plotted data. (3-5 sentences)

Exponential smoothed forecast for demand from April to November when α = 0.25 Exponential smoothed…

Part C 3. The manager of a certain gasoline station wants to forecast the demand for the unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The manager has accumulated the following data demand for unleaded gasoline from sales during the past eight months. Month Gasoline Demanded (gallons) Mar 900 Given that the forecast for March is 920. Аpr 755 May 650 Jun 550 Jul 625 Aug 730 Sept 820 Oct 1100 a. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.25. b. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.45. c. Plot the actual demand and the forecasts determined in part a and b on the same graph and compare them. d. Make a comparative analysis out of your answers in the plotted data. (3-5 sentences)

Part C 3. The manager of a certain gasoline station wants to forecast the demand for the unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The manager has accumulated the following data demand for unleaded gasoline from sales during the past eight months. Month Gasoline Demanded (gallons) Mar 900 Given that the forecast for March is 920. Аpr 755 May 650 Jun 550 Jul 625 Aug 730 Sept 820 Oct 1100 a. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.25. b. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.45. c. Plot the actual demand and the forecasts determined in part a and b on the same graph and compare them. d. Make a comparative analysis out of your answers in the plotted data. (3-5 sentences)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 8E: The Stopdecay Company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per...

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