Question

The Aleidon Middle School forecasts its lunch meals using the exponential smoothing method. The recent results...

The Aleidon Middle School forecasts its lunch meals using the exponential smoothing method. The recent results and forecasts have been as follows:

Forecast Actual Demand
Day 1 315 325
Day 2 350 330

a) Determine the smoothing constant. (2 points)

b) Provide the forecast of the lunch meals for Day 3. (2 points)

Homework Answers

Answer #1
a)
Forecast for Day 2 = Day 1 forecast (Day 1 Actual - Day 1 Forecast) * Smooting constant
350 = 315 * ( 325-315 ) * Smooting constant
350 = 315 * ( 325-315 ) * Smooting constant
Smoothing constant = (350-315) / 10 = 3.5
b)
Forecast for Day 3 = Day 2 forecast (Day 2 Actual - Day 2 Forecast) * Smooting constant
Forecast for Day 3 = 350 (330-350) * 3.5
Forecast for Day 3 = 350-70 = 280
Please give ratings to my answer as your feedback is very important to me.
Please reach out to me in the comment section in case of any clarification or queries.
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Using ? = 0.5 and the following data, compute exponential smoothing forecasts for periods 2 through...
Using ? = 0.5 and the following data, compute exponential smoothing forecasts for periods 2 through 8. (Round your intermediate calculations and final answers to 2 decimal places.) Period: 1 2 3 4 5 6 7 Forecast: 10 Actual demand: 12 15 11 13 11 11 10
A) Forecast the demand for the next 4 periods using Exponential Constant Smoothing. Demand for 6...
A) Forecast the demand for the next 4 periods using Exponential Constant Smoothing. Demand for 6 periods is as follows: Period 1 2 3 4 5 6                                                                   Demand 20 22 21 18 19 28 B) Determine the bias
Busy Bee Distilleries is producing a new whiskey for launch on the Labour Day weekend. When...
Busy Bee Distilleries is producing a new whiskey for launch on the Labour Day weekend. When the company has launched other products in the past, actual sales have been as follows: Month    Actual Sales (bottles) 1 5,500 2 6,200 3 7,150 4 8,000 5 9,300 6 10,000 a) Using the 3-month Moving Average method, calculate sales forecasts for months 4, 5 & 6. b) Using the Exponential Smoothing method, calculate sales forecasts for months 4, 5 & 6; let...
Orchard Relief is a product that is designed to improve sleep at night. The company, Eli...
Orchard Relief is a product that is designed to improve sleep at night. The company, Eli Orchard, is guessing that sales of the product is somewhat related to sleeping patterns of customers over the days of the week. Before mass production of the product, Eli Orchid has market-tested Orchid Relief in only Orange County over the past 8 weeks. The weekly demand is recorded. Eli Orchid is now trying to use the sales pattern over the past 8 weeks to...
1.Establishing the virtual Management: As known, managing virtual staff requires a different method or approach than...
1.Establishing the virtual Management: As known, managing virtual staff requires a different method or approach than managing local staff. Due to that reason, Golden Scent has developed a strategic plan to successfully manage its virtual staff in the USA. Identify the suitable manager. to make sure our work will proceed as we planned, Golden Scent willrecruit a virtual manager with the essential skills and knowledge required to manage virtual employees. Find the skilled people to work with. Since not everyone...
READ THE CASE STUDY AND ANSWER THE FOLLOWING QUESTIONS 2nd CASE: An Unexplained Death A 65-year-old...
READ THE CASE STUDY AND ANSWER THE FOLLOWING QUESTIONS 2nd CASE: An Unexplained Death A 65-year-old man of Scandinavian descent was rushed to the Emergency Room of your local hospital after a family member discovered him unconscious in his home. The woman who dialed “911” told the dispatcher that the man, her brother, was the local librarian of the past 10 years and had no spouse or children. She reported that they had spoken the day before, and he had...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From the April 2004 Issue Save Share 8.95 In 1991, Progressive Insurance, an automobile insurer based in Mayfield Village, Ohio, had approximately $1.3 billion in sales. By 2002, that figure had grown to $9.5 billion. What fashionable strategies did Progressive employ to achieve sevenfold growth in just over a decade? Was it positioned in a high-growth industry? Hardly. Auto insurance is a mature, 100-year-old industry...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how the firms resources incompetencies support the given pressures regarding costs and local responsiveness. Describe entry modes have they usually used, and whether they are appropriate for the given strategy. Any key issues in their global strategy? casestudy: Atlanta, June 17, 2014. Sea of Delta employees and their families swarmed between food trucks, amusement park booths, and entertainment venues that were scattered throughout what would...