Question: Your manager is trying to determine what forecasting method to use. Based on the following historical data, calculate the following forecasts and specify what procedure
Your manager is trying to determine what forecasting method to use. Based on the following historical data, calculate the following forecasts and specify what procedure you would utilize.
| MONTH | ACTUAL DEMAND | ||
| 1 | 56 | ||
| 2 | 58 | ||
| 3 | 60 | ||
| 4 | 65 | ||
| 5 | 74 | ||
| 6 | 76 | ||
| 7 | 77 | ||
| 8 | 81 | ||
| 9 | 81 | ||
| 10 | 83 | ||
| 11 | 85 | ||
| 12 | 86 | ||
Calculate the single exponential smoothing forecast for periods 212 using an initial forecast (F1) of 54 and an of 0.10. (Do not round intermediate calculations. Round your answers to 3 decimal places.)
d. Calculate the exponential smoothing with trend component forecast for periods 212 using an initial trend forecast (T1) of 1.50, an initial exponential smoothing forecast (F1) of 58, an of 0.10, and a of 0.40. (Do not round intermediate calculations. Round your answers to 3 decimal places.)
E- Exponential smoothing with trend?
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