Which forecast method seems most appropriate

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Reference no: EM132227360

A can opener manufacturer has had monthly sales for a seven-month period as follows:

Month Sales

Feb. 1256

Mar. 1602

Apr. 2376

May 1844

Jun. 2231

Jul. 2716

Aug. 1793

a) Plot the monthly data

b) Forecast September’s sales using each of the following:

1. A linear trend equation. (Use of Excel’s regression).

2. A three-month simple moving average.

3. Exponential smoothing with a smoothing constant equal to 0.1, and a starting forecast for May of 2093

4. A three-month weighted average using 0.1 for August, 0.1 for July, and 0.80 for June.

c) Which forecast method seems most appropriate? Why?

Reference no: EM132227360

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