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Plot the monthly data of national scan inc

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Reference no: EM132629815

1. National Scan, Inc sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows:

Month Sales (000 units)

Feb. 20

Mar. 19

Apr. 16

May 21

Jun. 19

Jul. 23

Aug. 21

a. Plot the monthly data on a sheet of graph paper.

b. Forecast September sales volume using each of the following:

(1) The naive approach

(2) A five month moving average

(3) A weighted average using .60 for August, .30 for July, and .10 for June

(4) Exponential smoothing with a smoothing constant equal to .20, assuming a a March forecast of 19(000)

(5) A linear trend equation

c. Which method seems least appropriate? Why? (Hint: Refer to your plot from part a.)

d. What does use of the term sales rather than demand presume?

Reference no: EM132629815

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