The following table shows the actual demand observed over the last 11 years: 4 6 Year...

Question

Question

The following table shows the actual demand observed over the last 11 years: 4 6 Year Demand 1 7 2 10 3 4 5 13 8 7 12 8 13 9

business Operations-Management

Answer 1

Answer #1

The formula for exponential smoothing forecast is

F2 = α*A1 + (1- α)*F1

Here F2 is the forecast for next period, A1 is the demand for current period and F1 is the forecast for the current period.

The calculated values are shown below

Answer 2

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