Problem 2 Below is three months of data on total sales from McDonalds in Huntsville. Using...
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Problem 2 Below is three months of data on total sales from McDonalds in Huntsville. Using the data below, please answer the following question. Month August September October Sales $30,000 $45,000 $55,000 Assuming an initial forecast in August of $25,000, an initial trend component of 0, a = 0.6 and = 0.6, make a forecast for October's sales using both the regular exponential smoothing forecast AND the trend adjusted exponential smoothing forecast (in the case of the trend adjusted exponential smoothing forecast, please provide the final forecast, known as FIT). Which forecast makes a better prediction for October's sales? Why do you think this forecast makes a better prediction in October? Problem 2 Below is three months of data on total sales from McDonalds in Huntsville. Using the data below, please answer the following question. Month August September October Sales $30,000 $45,000 $55,000 Assuming an initial forecast in August of $25,000, an initial trend component of 0, a = 0.6 and = 0.6, make a forecast for October's sales using both the regular exponential smoothing forecast AND the trend adjusted exponential smoothing forecast (in the case of the trend adjusted exponential smoothing forecast, please provide the final forecast, known as FIT). Which forecast makes a better prediction for October's sales? Why do you think this forecast makes a better prediction in October?
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