Use exponential smoothing with trend adjustment to forecast

Assignment Help Operation Management

Reference no: EM131860991

Marie Bain is the production manager at a company that manufactures hot water heaters. Marie needs a demand forecast for the next few years to help decide whether to add new production capacity.

The company's sales history (in thousands of units) is shown in the table below. Use exponential smoothing with trend adjustment to forecast demand for period 6.

The initial forecast for period 1 was 11 units; the initial estimate of trend was 0. The smoothing constants are alpha = 3 and beta = 3

Period	Actual
1	12
2	15
3	16
4	16
5	18
6	20

Reference no: EM131860991

Questions Cloud

Create a simple project plan for the given scenarios : After completing your project plan using MS Project (or Excel), you are to write a one-page report that includes.

Evaluate potential solutions through given points : Excellent papers will exhibit clear thought, with detailed documentation of the degree that proposed solutions address MCM's main problem, their feasibility.

Why is competitive intelligence so hot in todays business : How do marketers use competitive intelligence to shape marketing strategy decisions? Why is competitive intelligence so hot in today's business world?

Explains the origins of the american revolution : Write an essay that explains the origins of the American Revolution by discussing complaints that different groups of Americans had against British government.

Use exponential smoothing with trend adjustment to forecast : The initial forecast for period 1 was 11 units; the initial estimate of trend was 0. The smoothing constants are alpha = 3 and beta = 3

How credible is the statement made by the ceo : How credible is the statement made by the CEO of St. David's while receiving the Baldridge award that the award was not the prime motive for the quality.

Identify what is the story behind the business : Create at least 5 interview questions to ask the entrepreneur about themselves and their business. Identify what's the "story" behind the business

Impact a person psychological well-being : Discuss any of these or others that may impact you, your psychological state or you achieving your goals.

What is the purpose of big data : What is the purpose of Big Data, including what it is used for, why it is necessary and some examples Big Data?

User Account

All Pages