The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month
Fantastic news! We've Found the answer you've been seeking!
Question:
The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales during the past 10 months:
a. Compute an exponential smoothed forecast, using an α value of 0.4
b. Compute the MAD.
Petroco Service Station | ||||
alpha = | 0.4 | |||
Month | Gas Demand | Exp Forecast | Error | |
October | 775 | ---- | ||
November | 835 | |||
December | 605 | |||
January | 450 | |||
February | 600 | |||
March | 700 | |||
April | 820 | |||
May | 925 | |||
June | 1500 | |||
July | 1200 | |||
August | ||||
8410 | SUM | |||
MAPD | ||||
Related Book For
Posted Date: