Exponentially smoothed forecast

Assignment Help Basic Statistics

Reference no: EM1398628

The manager fo 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)

Oct 800

Nov 775

Dec 630

Jan 500

Feb 645

March 690

April 730

May 810

June 1,200

July 980

Compute an exponentially smoothed forecast using an symbol a which stand for a weighting factor referred to as the smoothing constant of a value of .30

Compute an adjusted exponentially smoothed forecast with a which stand for a weighting factor referred to as the smoothing constant =.30 and B.20

Compute the two forecast by using MAPD and indicate which seems to be more accurate

Reference no: EM1398628

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