The historical sales of smart watches sold by On Time Retails is given in the table below.
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Question:
The historical sales of smart watches sold by On Time Retails is given in the table below. Based on detailed analysis (not shown here) its sales manager has decided to use Simple Exponential Smoothing method to forecast the sales.
(A) Forecast the sales for week no 7, if alpha=0.2.
What value of the smoothing constant, alpha, should the manager choose- alpha=0.2 or alpha=0.7?
Assume forecast for Week no-1 was 420 watches. Show all calculations
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
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