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The manager at a convenience store wants to forecast sales for an item THIS WEEK based...

The manager at a convenience store wants to forecast sales for an item THIS WEEK based on the following historical data:

WEEK

ACTUAL SALES

(Number of units sold)

Six weeks ago

150

Five weeks ago

300

Four weeks ago

450

Three weeks ago

600

Two weeks ago

750

One week ago

900

THIS WEEK

NOT KNOWN

Determine the sales forecast for THIS WEEK using exponential smoothing method with smoothing constant, α = 0.3 and the sales forecast for three weeks ago = 590 units.

717.07 units
718.07 units
720.07 units
721.07 units
719.07 units
business   Operations-Management   
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Answer #1

Fr- E Forecast sl previous p Forecost one Lweels bor 900 (0.3) (0.7) (140.1 eca+ + 312.01. Hence Corsest eption is 3.

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