Given the demand and forecast values shown in the following Table Q3b, i.Determine the three-period moving average forecast for November. ii. Analyze the exponential smoothing forecast for November using a = 0.35. iii. Evaluate the forecast error for September.
Given the demand and forecast values shown in the following Table Q3b, i.Determine the three-period moving average forecast for November. ii. Analyze the exponential smoothing forecast for November using a = 0.35. iii. Evaluate the forecast error for September.
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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b. Given the demand and
i.Determine the three-period moving average forecast for November.
ii. Analyze the exponential smoothing forecast for November using a = 0.35.
iii. Evaluate the forecast error for September.
Transcribed Image Text:Period
June
July
August
Demand
495
515
519
September 496
October 557
Forecast
Forecast Table Q3b
484
506
528
506
550
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