Canton Supplies, Inc., is a service firm that employs approximately 100 individuals. Managers of Canton Supplies are
Question:
a. Construct a time series plot. What type of pattern exists in the data?
b. Use Holt's linear exponential smoothing with α = .6 and β = .4 to forecast cash requirements for each of the next two months.
c. Using Minitab or Excel, develop a linear trend equation to forecast cash requirements for each of the next two months.
d. Would you recommend using Holt's linear exponential smoothing with α = .6 and β = .4 to forecast cash requirements for each of the next two months or the linear trend equation? Explain.
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Related Book For
Statistics For Business And Economics
ISBN: 9780538481649
11th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
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