Clydes chairs and things sells custom made chairs yearly

Reference no: EM13616388

Clyde's Chairs and Things sells custom made chairs. Yearly sales from 1983 to 2011 are provided below. After analyzing the information, answer the following questions as completely as possible:

1. Plot the yearly sales data.

2. Compute the sales forecast for 2012 using the following approaches: ?

a) naïve forecast, ?

b) a four year moving average, ?

c) a weighted 3 year average using .5 for 2011, .3 for 2010, and .2 for 2009, ?

d) exponential smoothing with alpha (smoothing constant) equal to .4 and assuming a 1984 forecast value of 20,050.

3. Which method was the most appropriate and why? Which was the least appropriate and why?

Reference no: EM13616388

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