Question: (SHOW YOUR COMPLETE WORK) Manager at a local retailer has been monitoring the demand for a product. The actual demand data during the last five

(SHOW YOUR COMPLETE WORK) Manager at a local
(SHOW YOUR COMPLETE WORK) Manager at a local
(SHOW YOUR COMPLETE WORK) Manager at a local retailer has been monitoring the demand for a product. The actual demand data during the last five weeks are shown below: Use trend-adjusted exponential smoothing to obtain the demand forecast for THIS WEEK. Use the following: Exponentially smoothed forecast five weeks ago =138 units Exponentially smoothed trend estimate five weeks ago =8 units The smoothing constants: =0.4,=0.5. [32 points] Use the appropriate label/unit of measurement in your answer. Leave the numbers in decimals and go up to 5 decimal places for higher accuracy. 3. (SHOW YOUR COMPLETE WORK) The actual demand data over the past seven weeks for a new product are shown below: a. Plot the weekly demand data using a software OR on a sheet of graph paper. [5 points] b. Use TREND PROJECTIONS method to determine the equation of the trend line estimating the linear relationship between time (in weeks) and demand (in units sold). [23 points] c. Use the equation of the trend line to predict demand for THIS WEEK. [2 points] (Hint: 'Seven weeks ago' will have a value of ' 1 ' in the equation of the trend line, and by the same logic 'One week ago' will have a value of ' 7 ' in the equation of the trend line.) Use the appropriate label/unit of measurement in your answers. Leave the numbers in decimals and go up to 5 decimal places for higher accuracy

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!