Question: Exercise II (25 points) The demand for Gingerbread Men is shown in the table below. Month Demand 1 1500 2 2200 3 2700 4 4200

Exercise II (25 points)

The demand for Gingerbread Men is shown in the table below.

Month

Demand

1

1500

2

2200

3

2700

4

4200

5

7800

6

5400

7

Required:

  1. Apply exponential smoothing with a smoothing constant of 0.4 to derive a forecast for the demand in month 7. The forecast for month 1 is 1500 units.
  2. Forecast demand for period 7 by fitting a least-square line trend.

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