Question: Burger Lover Restaurant forecasts weekly sales of cheeseburgers Based on

Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Based on historical observations over the past five weeks, make a forecast for the next period using the following methods: simple average, three-period moving average, and exponential smoothing with α = 0.3, given a forecast of 328 cheeseburgers for the first week.
Week ...... Cheeseburger Sales
1 ............ 354
2 ............ 345
3 ............ 367
4 ............ 322
5 ............ 356

If actual sales for week 6 turn out to be 368, compare the three forecasts using MAD. Which method performed best?


View Solution:


Sale on SolutionInn
Sales4
Views312
Comments
  • CreatedJuly 11, 2014
  • Files Included
Post your question
5000