YEAR SALES (At) FORECAST (Ft) 1 450 410 2 495 3 518 4 563 5 584 6 ? a. Using exponential smoothing with a weight of α = 0.30, develop forecasts for years 2 through 6? b. Calculate the MAD for your data?
YEAR SALES (At) FORECAST (Ft) 1 450 410 2 495 3 518 4 563 5 584 6 ? a. Using exponential smoothing with a weight of α = 0.30, develop forecasts for years 2 through 6? b. Calculate the MAD for your data?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 42P: The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars)...
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Question
Sales of Volkswagen’s popular Beetle have grown steadily at auto dealerships in
Nevada during the past 5 years (see table below). The sales manager had predicted
before the new model was introduced that first year sales would be 410 VWs.
YEAR SALES (At)
1 450 410
2 495
3 518
4 563
5 584
6 ?
a. Using exponential smoothing with a weight of α = 0.30, develop forecasts for years
2 through 6?
b. Calculate the MAD for your data?
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