Develop forecasts for FY2021 using the two forecasting methods currently employed by Throx. Please show your...

Transcribed Image Text:

Develop forecasts for FY2021 using the two forecasting methods currently employed by Throx. Please show your work Product Orders (Demand) Information The company provides you with the following information for the past two fiscal years: Demand Characteristic Annual Demand, sets Average Weekly Demand Standard Deviation of Weekly Demand Actual Demand (Three Sock Sets) 2017 19,025 2018 22,450 2019 25,817 2020 30,722 2019 26,817 Weighted Moving Average Forecast (MA) 16,500 16,915 20,275 23,785 = Weighted Moving Average uses W₁ = 0.6, W.10.2, W₁-2=0.2 Exponential Smoothing uses a = 0.9 and 1-a = 0.1 496 124 2020 Product Forecasting Information Throx uses two main forecasting methods based on annual data to predict orders for the following year, a weighted moving average and exponential smoothing. The table below provides forecast calculations for FY2017 through FY2020, along with actual demand experienced in each of those years. 30,722 591 148 Exponential Forecast (EXP) 16,300 18,753 22,080 25,443 Develop forecasts for FY2021 using the two forecasting methods currently employed by Throx. Please show your work Product Orders (Demand) Information The company provides you with the following information for the past two fiscal years: Demand Characteristic Annual Demand, sets Average Weekly Demand Standard Deviation of Weekly Demand Actual Demand (Three Sock Sets) 2017 19,025 2018 22,450 2019 25,817 2020 30,722 2019 26,817 Weighted Moving Average Forecast (MA) 16,500 16,915 20,275 23,785 = Weighted Moving Average uses W₁ = 0.6, W.10.2, W₁-2=0.2 Exponential Smoothing uses a = 0.9 and 1-a = 0.1 496 124 2020 Product Forecasting Information Throx uses two main forecasting methods based on annual data to predict orders for the following year, a weighted moving average and exponential smoothing. The table below provides forecast calculations for FY2017 through FY2020, along with actual demand experienced in each of those years. 30,722 591 148 Exponential Forecast (EXP) 16,300 18,753 22,080 25,443

Answer rating: 100% (QA)

To develop forecasts for FY2021 using the two forecasting methods employed by Throx Weighted Moving ... View the full answer