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)

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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
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