Monthly sales of storage sheds at Wallace Garden supply are shown in the following table. Using the
Question:
Monthly sales of storage sheds at Wallace Garden supply are shown in the following table. Using the table, answer the following sub-questions:
month | Actual Sales |
January | 10 |
February | 12 |
March | 16 |
April | 13 |
May | 17 |
June | 19 |
July | 15 |
August | 20 |
September | 22 |
October | 19 |
November | 21 |
December | ? |
1) Monthly sales of storage sheds at Wallace Garden supply areshown in the following table. Using a simple average, what is yourforecast for December sales?
a.15.2
b.16.7
c.20.55
d.None of the above
2) Monthly sales of storage sheds at Wallace Garden supply areshown in the following table. Using the 3-month moving averageforecasting method (simple average), what is your forecast ofDecember sales?
a.15.2
b.16.7
c.20.67
d.None of the above
3) Monthly sales of storage sheds at Wallace Garden supply areshown in the following table. Using exponential smoothingwith =0.2 ,January forecast of 11 units, what is your forecast of Decembersales?
a.15.2
b.16.7
c.18.03
d.none of the above
4) Instead of using a three-month moving average, let us assumethat Wallace Garden Supply would like to forecast sales of storagesheds by weighting the past three months, as follows:
Period | Weight |
Last month | 3/6 |
Two months ago | 2/6 |
Three months ago | 1/6 |
What is your forecast of December sales?
a.20.5
b.16.7
c.20.67
d.None of the above
Statistical Techniques in Business and Economics
ISBN: 978-0078020520
16th edition
Authors: Douglas Lind, William Marchal