An automobile dealer is using Holt’s method to forecast weekly car sales. Currently, the level is estimated to be 50 cars per week, and the trend is estimated to be six cars per week. During the current week, 30 cars are sold. After observing the current week’s sales, forecast the number of cars three weeks from now. Use α = β = 0.3.
Answer to relevant QuestionsYou have been assigned to forecast the number of aircraft engines ordered each month from an engine manufacturing company. At the end of February, the forecast is that 100 engines will be ordered during April. Then during ...A local bank is using Winters’ method with α = 0.2, β = 0.1, and γ = 0.5 to forecast the number of customers served each day. The bank is open Monday through Friday. At the end of the previous week, the following ...The file S12_59.xlsx contains total monthly U.S. retail sales data. Compare the effectiveness of Winters’ method with that of the ratio-to-moving-average method in de-seasonalizing this time series. Using the ...The file S12_56.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). Does a ...The Sales2 variable in the file from the previous problem was created from the Sales1 variable by multiplying by monthly seasonal factors. Basically, the summer months are high and the winter months are low. This might ...
Post your question