Outlet store wants to forecast chocolate demand

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Reference no: EM131062141

1. The owner of a chocolate outlet store wants to forecast chocolate demand. Demand for the preceding four years is shown in the following table:

Year	Demand (pounds)
1	68800
2	71000
3	75500
4	71200

Forecast demand for year 5 using the following approaches:

i. A three-year moving average

ii. Exponential smoothing with a = 0.30, and assuming the forecast for period 1 = 68,000

Reference no: EM131062141

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