Given the following data: a) Prepare a forecast using smoothing constant a = 0.40. b) What...
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Given the following data: a) Prepare a forecast using smoothing constant a = 0.40. b) What is the starting point? An initial forecast value must be determined. c) Average of several periods of actual data. d) Subjective estimate (for this example, use 60). e) First actual value (naïve approach). Period 3 Actual 6556 63 52 62 60 Forecast F2-F1+0.4 (A1-FI) F3-F2+04 (A2+F2) F4-F3+04 (A3+F3) Calculations 60+0.4 (63-60)-61.20 61.2+04 (52-61.2) 57.52 57.52+0.4 (56-57.52) 56.91 Given the following data: a) Prepare a forecast using smoothing constant a = 0.40. b) What is the starting point? An initial forecast value must be determined. c) Average of several periods of actual data. d) Subjective estimate (for this example, use 60). e) First actual value (naïve approach). Period 3 Actual 6556 63 52 62 60 Forecast F2-F1+0.4 (A1-FI) F3-F2+04 (A2+F2) F4-F3+04 (A3+F3) Calculations 60+0.4 (63-60)-61.20 61.2+04 (52-61.2) 57.52 57.52+0.4 (56-57.52) 56.91
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a Prepare a forecast using smoothing constant 040 Period Actual Forecast 1 63 60 2 52 6120 3 56 5752 ... View the full answer
Related Book For
Statistics For Business And Economics
ISBN: 9780538481649
11th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
Posted Date:
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