calculate the following Forecasting SHOP SALE 24 The table shows the number of umbrella sold in Jan
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Forecasting SHOP SALE 24 The table shows the number of umbrella sold in Jan - Dec. Forecast the demand for umbrella in Jan of the following year using: a. Naïve method b. 3-month moving average c. Exponential smoothing, a=0.3 d. Based on the Mean Squared Error (MSE), which method would you use to forecast demand for January? Month Sales Jan 517 Feb 463 Mar Apr May June July Aug Sept Oct Nov Dec Jan 710 145 690 300 832 994 620 160 462 972 ? Forecasting SHOP SALE 24 The table shows the number of umbrella sold in Jan - Dec. Forecast the demand for umbrella in Jan of the following year using: a. Naïve method b. 3-month moving average c. Exponential smoothing, a=0.3 d. Based on the Mean Squared Error (MSE), which method would you use to forecast demand for January? Month Sales Jan 517 Feb 463 Mar Apr May June July Aug Sept Oct Nov Dec Jan 710 145 690 300 832 994 620 160 462 972 ?
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Answer rating: 100% (QA)
To forecast the demand for umbrellas in January using different methods lets calculate the forecasts step by step a Nave Method In the Nave method we ... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
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