Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given in
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Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given in Problem 5-15. Assume that last period's forecast for year 1 is 5,000 bags to begin the procedure.
Would you prefer to use the exponential smoothing model or the weighted average model developed in Problem 5-15? Explain your answer.
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a 03 New forecast for year 2 is last periods forecast a last periods actual demand last periods fore...View the full answer
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Related Book For
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
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