Prepare a forecast using exponential smoothing method

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Reference no: EM133819433

Assignment: Forecasting Model

A rental car manager estimates the number of full-size sedans rented per week so that she can maintain an adequate number of cars in the lot. Data for the past 10 weeks are shown here:

Week	Rentals	Week	Rentals
1	23	6	28
2	24	7	32
3	32	8	35
4	26	9	26
5	31	10	24

1. Prepare a forecast through week 11 by using a five-week moving average.

2. Prepare a forecast through week 11 by using a 3-period weighted moving average, giving the weight of 0.5 to the most recent week, 0.3 to the second week and 0.2 to the third week. Get the instant assignment help.

3. Prepare a forecast using exponential smoothing method with α = 0.2. Forecast for week 1 was 22.

4. Prepare a forecast through week 11 by using a regression model Y= 26.33 + 0.3212X

5. Which method is preferred for this data if mean absolute deviation (MAD) is used?

6. Make a recommendation for the number of full-size sedans for a week.

Reference no: EM133819433

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