The forecast for week 13 is
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...
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A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use the exponential smoothing (let
α=0.4
with an initial forecast for week 1 of
617)
methods to forecast demand for week
13.
Period
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
10
|
11
|
12
|
Sales
|
617
|
617
|
648
|
739
|
659
|
623
|
742
|
704
|
724
|
715
|
668
|
740
|
Obtain the exponential smoothing forecast.
The forecast for week 13 is =? nothing.
(Enter your response rounded to the nearest whole number.)
(Enter your response rounded to the nearest whole number.)
Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses as real numbers rounded to two decimal places.)
MAD
|
MAPE
|
=? |
=?%
|
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