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. | 16 |
| Mar. | 19 |
| Apr. | 11 |
| May. | 22 |
| Jun. | 19 |
| Jul. | 24 |
| Aug. | 21 |
| b. | Forecast September sales volume using each of the following: |
(Fill in the blanks)
| (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 .20, 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)
1) from above linear trend forecast =14.143+8*1.179 =23.57
2) five-month moving average forecast =19.4
3)
|
Exponential smoothing frecast =19.07 4) Naive approach =21 5) Weighted average =0.6*21+0.2*24+0.2*19 |
=21.2
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