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Actual demand for a product for the past three months was
Three months ago 390 units
Two months ago 340 units
Last month 295 units
a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whole number.)
b. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month moving average? (Round your answer to the nearest whole number.)
c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 440 units and the smoothing constant was 0.20? (Round your answer to the nearest whole number.)

Respuesta :

anthougo

Answer:

a) This month = 342

b) Next month = 308

c) This month using simple exponential smoothing = 352.

Explanation:

a) Data and Calculations:

Month                 Demand    3-month Moving

                                                   Average

3 months ago      390

2 months ago      340

1 month ago        295

This month                                342

b)

Month                 Demand    3-month Moving

                                                   Average

3 months ago      390

2 months ago      340

1 month ago        295

This month         290

Next month                                308

c) Simple exponential smoothing

Forecast for three months ago = 440

Smoothing constant = 0.20

Forecast for this month = 440 * (1- 0.20) = 352

d) For the simple exponential smoothing, the most recent period's forecast is multiplied by (one minus the smoothing factor).

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