Question: Current Attempt in Progress Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Cheeseburger Sales Week 1 343 2 353 3 367 4 321 5 357

Current Attempt in Progress Burger Lover

Current Attempt in Progress Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Cheeseburger Sales Week 1 343 2 353 3 367 4 321 5 357 Based on historical observations over the past five weeks, make a forecast for the next period using the following methods: simple average, three-period moving average, and exponential smoothing with a = 0.3, given a forecast of 334 cheeseburgers for the first week. (Round your answers to 2 decimal places, e.g. 250.25) Simple average: F6 = 3-Period moving average: F6 = Exponential smoothing: F6 = If actual sales for week 6 turn out to be 373, compare the three forecasts using MAD. Which method performed best? (Calculate your answers using the error only in period 6.) MAD (simple average) = MAD (3-period moving average) = MAD (exponential smoothing) = 4 provides the lowest MAD

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