Calculate an adjusted exponentially smoothed forecast

Reference no: EM1319958

Question: The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales during the past ten months:

Month	Gasoline Demanded (gal.)
October	800
November	725
December	630
January	500
February	645
March	690
April	730
May	810
June	1,200
July	980

[A] Compare the two forecasts by using MAPD and indicate which seems to be more accurate.
[B] Calculate an adjusted exponentially smoothed forecast [with alpha = .30 and beta = .20].

Reference no: EM1319958

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