Not all the items in your office supply store are evenly distributed as far as demand is
Question:
Not all the items in your office supply store are evenly distributed as far as demand is concerned, so you decide to forecast demand to help plan your stock. Past data for legal-sized yellow tablets for the month of August are:
Week 1 ............. 300
Week 2 ............. 400
Week 3 ............. 600
Week 4 ............. 700
a. Using a three- week moving average, what would you forecast the next week to be?
b. Using exponential smoothing with α 0.20, if the exponential forecast for week 3 was estimated as the average of the first two weeks [(300 + 400) / 2 = 350], what would you forecast week 5 to be?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Operations and Supply Chain Management
ISBN: 978-0078024023
14th edition
Authors: F. Robert Jacobs, Richard Chase
Question Posted: