Observed weekly sales of ball peen hammers at the town hardware store over an eight-week period...
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Observed weekly sales of ball peen hammers at the town hardware store over an eight-week period have been 14, 9, 30, 22, 34, 12, 19, 23. a. Suppose that three-week moving averages are used to forecast sales. Determine the one-step-ahead forecasts for weeks 4 through 8. b. Suppose that exponential smoothing is used with a smoothing constant of a - .15. Find the exponential smoothing forecasts for weeks 4 through 8. [To get the method started, use the same forecast for week 4 as you used in part (a).] e. Based on the MAD, which method did better? d. What is the exponential smoothing forecast made at the end of week 6 for the sales in week 12? Observed weekly sales of ball peen hammers at the town hardware store over an eight-week period have been 14, 9, 30, 22, 34, 12, 19, 23. a. Suppose that three-week moving averages are used to forecast sales. Determine the one-step-ahead forecasts for weeks 4 through 8. b. Suppose that exponential smoothing is used with a smoothing constant of a - .15. Find the exponential smoothing forecasts for weeks 4 through 8. [To get the method started, use the same forecast for week 4 as you used in part (a).] e. Based on the MAD, which method did better? d. What is the exponential smoothing forecast made at the end of week 6 for the sales in week 12?
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Step 1 of 6 A Moving average is a type of forecasting method used for stationary ... View the full answer
Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
Posted Date:
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