Business assignment
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the table attached. Develop a 3-year moving average to forecast sales. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1.
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The
three-year moving average forecast for Wallace Garden Supply is .
(Please round it to two decimal points and include no units.) |
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The Mean
Absolute Deviation (MAD) for the above moving average forecast is .
(Please round it to two decimal points.) |
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The
three-year weighted moving average forecast for Wallace Garden
Supply is .
(Please round it to an integer and include no units.) |
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The Mean
Absolute Deviation (MAD) for the above weighted moving average
forecast is .
(Please round it to two decimal points.) |
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Based on your previous calculation, which method do you think is the best?
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Sales of Cool-Man air conditioners have grown steadily during the past 5 years as shown in the attached table. The sales manager had predicted, before the business started, that year 1’s sales would be 410 air conditioners. Please use exponential smoothing with a weight of a = 0.30to answer the following questions.
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The starting /initial forecast for the sales of Cool-Man air conditioners is _________. (Please round it to an integer and include no units.)
Reset Selection |
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The Year
2 forecast for the sales of Cool-Man air conditioners is .
(Please round it to an integer and include no units.) |
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The Year
6 forecast for the sales of Cool-Man air conditioners is .
(Please round it to two decimal points and include no units.) |
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The Mean Absolute Deviation (MAD) for the above exponential smoothing forecast is . (Please round it to two decimal points.) |
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Solution: Business assignment