Question
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as...
|
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: |
| Month | Sales (000)Units |
| Feb. | 15 |
| Mar. | 15 |
| Apr. | 10 |
| May. | 27 |
| Jun. | 15 |
| Jul. | 23 |
| Aug. | 28 |
| b. | Forecast September sales volume using each of the following: |
| (1) |
A linear trend equation.(Round your intermediate calculations and final answer to 2 decimal places.) |
| Yt | thousands |
| (2) |
A five-month moving average. (Round your answer to 2 decimal places.) |
| Moving average | thousands |
| (3) |
Exponential smoothing with a smoothing constant equal to .50, assuming a March forecast of 19(000). (Round your intermediate forecast values and final answer to 2 decimal places) |
| Forecast | thousands |
| (4) | The naive approach. |
| Naive approach | thousands |
| (5) |
A weighted average using .60 for August, .20 for July, and .20 for June. (Round your answer to 2 decimal places.) |
| Weighted average | thousands |
Homework Answers
Answer #1
1)
from above forecast
=10.429+2.143*8 =27.57 ( please try 27.55 or 27.56 id this comes
out wrng due to rounding)
2)
five-month moving average =(28+23+15+27+10)/5=20.6
3)
| exponential | |||
| Month | Sales | forecast | |
| (000)Units | |||
| Feb. | 15 | ||
| Mar. | 15 | 15.00 | |
| Apr. | 10 | 15.00 | |
| May. | 27 | 12.50 | |
| Jun. | 15 | 19.75 | |
| Jul. | 23 | 17.38 | |
| Aug. | 28 | 20.19 | |
| 24.09 | |||
from above forecast value =24.09 ( please try 24.10 if this comes wrong due to rounding)
4)
from naive approach forecast =28
5)
Weighted average forecast=0.6*28+0.2*23+0.2*15=24.4
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