Question: Use simple exponential smoothing with alpha = 0 . 3 to forecast gasoline sales ( in gallons ) for February through May. Assume that

Use simple exponential smoothing with \alpha =0.3 to forecast gasoline sales (in gallons) for February through May. Assume that the forecast for January was for 50 gallons. Round your forecast to 2 decimal points.
Month Gasoline Sales (gallons)
January 52
February 55
March 49
April 46

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!

Q:

The BAKERY sells pizza bases. The monthly orders for pizza bases for the last 9 months are as follows: month pizza bases January 1913 February 1652 March 1852 April a. Calculate a 3 period moving...

Q:

Carpet City Month 1 2 3 4 5 6 7 8 9 3 mos moving average Weighted 3 mos moving Demand for Soft Shag Carpet (1,000 yd.) forecast average forecast 10 9 8 9 10 12 14 11 Please apply weights stated in...

Q:

Data is complete. Please check all 3 pictures since its the same problem. 3. The UNCW store manager requested all employees to report the average monthly sales of small-sized UNCW sweatshirts for the...

Q:

A firm uses simple exponential smoothing with a = 0. 3 to forecast demand. The forecast for the first week of January was 500 units, whereas actual demand turned out to be 450 units. (a) Forecast the...

Q:

Months Tire Sales Forecast Jan 28 22 Feb 21 Mar 39 Apr 34 May Use simple exponetial smoothing with alpha = 0.3 to forecast the tire sales for February through May. Assume that the forecast for...

Q:

Given the demands from January to September, please forecast for October using 3 month moving average, weighted moving average with w1=0.5, w2=0.4, and w3=0.1, and simple exponential smoothing with...

Q:

Questions JPEG 1) Calculate (a) MAD, (b) MSE, and (c) MAPE for the following forecast versus actual sales figures. (Please round to four decimal places for MAPE.) Actual Forecast Error Abs(error)...

Q:

I just want the final answer ... without explanation Question 11 Not yet answered Marked out of 1.00 Flag question The panel consensus forecasting approach requires that the forecasting team discuss...

Q:

ASSIGNMENT MODEL Use simple exponential smoothing with \ alpha = 0 . 3 to forecast battery sales for February through May. Assume that the forecast for January was for 2 2 batteries. Month Automobile...

Q:

Forecast sales of textbooks for the applicable periods using a two period weighted moving average where the weights are most recent and 2 least recent Calculate MAD for this approach Use simple...

Q:

Name each of the following compounds. H3C- H3C CH3 H3C H3C CH3 .CH3 CHO H3C CN

Q:

Donnies Frozen Pizzas uses FIFO process costing. Selected production and cost data follow for April 2013. Requirements 1. Calculate the following: a. On March 31, the Mixing Department beginning...

Q:

The underwriting process involves all of these, EXCEPT for: A . Credit report B . Risk classification C . Policy Ioan D . Application

Q:

Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,950 gallons @ $9.10 per gallon = $17,745 Purchases: Sales: Mar. 10 790 gals @ $ 9.15 Mar. 5 590 gals Mar. 16...