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Forecast the revenue for year

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Reference no: EM133032940

Goodyear Tire and Rubber Company is the ninth largest tire manufacturer in the world.  Here are the sales revenues for the past five years:

Year

Revenue (millions)

1

$4,877.9

2

5,065.4

3

5,525.6

4

5,729.8

5

5,499.7

a. When might a manager prefer linear trend/double exponential smoothing techniques to moving average/exponential smoothing techniques and why?

b. Based on MAD over the period of the last three years (years 3, 4, and 5), which method (linear-trend or double-exponential smoothing method with a = 0.4 and b = 0.2 (start with initial estimates S1 = $4,867.90 and T1 = $201.5 for year 1)) provides the better forecasts?  Explain.  Then, use your selected forecasting method, forecast the revenue for year 6 and year 7.

Reference no: EM133032940

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