Develop forecasts using a five-year moving average

Assignment Help Operation Management

Reference no: EM13897005

A ski repair shop at a resort in Colorado sells replacement poles each season. The shop needs to develop a forecast of next season's sales so that they can place an order for poles with their supplier well in advance of the beginning of the season. Sales data for the past five years are shown below. Compare the forecasts given by the following models.

Year:	1	2	3	4	5
Sales (units):	375	395	360	400	380

Develop forecasts using:

a. A five-year moving average.

b. A weighted moving average model with weights of 0.1, 0.1, 0.2, 0.3, and 0.3 for years 1 through 5 respectively.

c. An exponential smoothing model with year 1 forecast of 380 and a 5 0.2.

Reference no: EM13897005

Questions Cloud

Explain changes in money demand and money supply in return : Using the model of the money market for the case of interest rate control, shift the appropriate curve(s) to show the impact of a decrease in the interest rate caused by an expansionary change in monetary policy. Explain the changes in money demand a..

What are the advantages of the different forms of adr : What are the advantages of the different forms of ADR? Pick one to discuss. Many contracts call for binding arbitration to resolve disputes instead of litigation. Is this a good idea?

African-americans and others of african descent : How is it that certain groups in the United States never given the opportunity to “assimilate”? Include the following groups in your analysis: Hispanics, African-Americans and others of African descent, Native-Americans, and Asian-Americans.

Review of object oriented software development methodologies : Review of Object Oriented Software Development Methodologies

Develop forecasts using a five-year moving average : Develop forecasts using A five-year moving average and A weighted moving average model with weights of 0.1, 0.1, 0.2, 0.3, and 0.3 for years 1 through 5 respectively.

Summary information from the financial statements : Summary information from the financial statements of two companies competing in the same industry follows.

The financial director of a private school would like : The financial director of a private school would like a tracking system for the students at the school

Installing maintenance-free solar panels on the rooftop : Looking to generate some additional income from the restaurant building you own, you explore the idea of installing maintenance-free solar panels on the rooftop. If you find a company who will install the solar panels (material and labor) for $54,000..

What are faux pas in your culture that person from outside : Do an Internet search on international faux pas. Read about behaviors that are rude or inconsiderate in other cultures that you might not find offensive at all. Are these behaviors considered inappropriate in only one other culture or in many? How mu..

User Account

All Pages