Question: To begin trying to instill an ordering process, Blake needs to first establish demand forecasts. Blake will begin looking at demand for lettuce at the
To begin trying to instill an ordering process, Blake needs to first establish demand forecasts.
Blake will begin looking at demand for lettuce at the Audubon farmers market. Use the
historical demand of lettuce provided in your case data to forecast demand at the Audubon
location for the next four weeks Week using the following methods:
aperiod moving average
b Exponentialsmoothing with
c Exponentialsmoothing with
dOptional: a time series regression model
Note : You can assume Blake estimated there would be a demand of pounds of lettuce in
Week
Note : Assume the following actual demand occurs. Blake will not know this demand until after
it has occurred but can use it in forecasting demand in future weeks ie actual demand in Week
can be used to forecast demand for Week and for error calculations in the following question.
This actual demand data should not be included as input data for your time series regression
model if you are creating one.
Week : pounds
Week : pounds
Week : pounds
Week : pounds
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
