the garden way manufacturing company uses the exponential seasonal and trend method(i.e winter's method) to forecast the
Question:
the garden way manufacturing company uses the exponential seasonal and trend method(i.e winter's method) to forecast the demand for garden tillers. As of January 1 (present year), the company estimates the base sales to be 1000 tillers per quarters and the trend to be 50 tillers per quarter. seasonal factors of 1.2, 1.6, 0.5 and 0.7 for previous year quarter1(Jan- Mar), quarter 2(Apr-Jun), quarter 3(Jul-Sept), quarter4(Oct-Dec). 1.)As of january 1(present year) predict the demand for the second quarter of the year. 2.)During the 1st quarter, the company experienced a demand of 1100 tillers . Use winters method to revise the appropriate forecasting model parameters, assume alpha=0.3, beta= 0.2 and gamma=0.5 .
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman