Use simple exponential smoothing with a = 0.6 to forecast the tire sales for September through December. Assume that the forecast for August was for 46 sets of tires. Do your forecasts seem to be biased? Why or why not? Month Sales 53 August September35 October 48 November 40

Use simple exponential smoothing with a = 0.6 to forecast the tire sales for September through December. Assume that the forecast for August was for 46 sets of tires. Do your forecasts seem to be biased? Why or why not? Month Sales 53 August September35 October 48 November 40

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

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 5E: A firm experienced the demand shown in the following table. *Unkown future value to be forecast Fill...

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Question

Use simple exponential smoothing with a =
0.6 to forecast the tire sales for September
through December. Assume that the forecast
for August was for 46 sets of tires. Do your
forecasts seem to be biased? Why or why
not?
Month
Sales
August
53
September35
October 48
November 40

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