An operation analyst is forecasting this year’s demand for one of his company’s products based on the following historical data:
Year # sold
4 years ago 10,000
3 years ago 12,000
2 years ago 18,000
Last year 20,000
1) What is the forecast for this year using the last-value forecasting method?
2) What is the forecast for this year using a moving-average forecast based on the last four years?
3) Which of the following possible values of would cause exponential smoothing to respond the most quickly to forecast errors?
The business analyst for Ace Business Machines, Inc. wants to forecast this year’s demand for manual typewriters based on the following historical data:
Time Period Demand
5 years ago 900
4 years ago 700
3 years ago 600
2 years ago 500
Last year 300
4) What is the forecast for this year using the last-value forecasting method?
5) In exponential smoothing with trend, the forecast consists of:
a) an exponentially smoothed forecast and a smoothed trend factor.
b) the old forecast adjusted by a trend factor.
c) the old forecast and a smoothed trend factor.
d) a moving-average and a trend factor.
e) None of the above.
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