Question: This is all one question and it would greatly help me if you could answer it all. Thank you for the help in advance. Burger

This is all one question and it would greatly This is all one question and it would greatly help me if you could answer it all. Thank you for the help in advance.

Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Cheeseburger Sales Week 1 363 2 351 358 4 327 5 347 Based on historical observations over the past five weeks, make a forecast for the next period using the following methods: simple average, three-period moving average, and exponential smoothing with a = 0.3, given a forecast of 326 cheeseburgers for the first week. (Round your answers to 2 decimal places,e.g. 250.25) Simple average: F6 = 3-Period moving average: F6 = Exponential smoothing: F6 = If actual sales for week 6 turn out to be 368, compare the three forecasts using MAD. Which method performed best? (Calculate your answers using the error only in period 6.) MAD (simple average) = MAD (3-period moving average) = MAD (exponential smoothing) = provides the lowest MAD 3 A

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!