Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. general management
  3. forecasting annual sales of product from xyz corpo

Forecasting Annual sales of product from XYZ corporation have been recorded as follows: Year Sales (000 units) Year Sales (000 units) 1 220 8 360 2 245 9 400 3 280 10 380 4 275 11 420 5 300 12 450 6 310 13 460 7 350 14 475 Management...

80.2K

Verified Solution

Question

General Management

Forecasting

Annual sales of product from XYZ corporation have been recordedas follows:

Year

Sales (000 units)

Year

Sales (000 units)

1

220

8

360

2

245

9

400

3

280

10

380

4

275

11

420

5

300

12

450

6

310

13

460

7

350

14

475

Management is interested in implementing a new forecastingsystem and investigating the following forecasting methods aspossibilities:

           Simple moving average, Weighted moving average, SimpleExponential Smoothing, Regression.

a.   Choosetwo of these methods and calculate forecasts forYear 15

If you use Exponential Smoothing, begin with the assumption theForecast for Year 12 was 435 (choose your own alpha)

b.   Present your forecastresults

c.   Explain why each of your chosen methods isappropriate for the data and time frame given

That's all the information provided by the professor. I'llupdate the question if further conditions are given, but that's allI have so far.

Answer & Explanation Solved by verified expert
4.0 Ratings (779 Votes)
The Simple Moving average with average taken for a period of 3months is as shownTheWeighted Moving average with    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

QUESTION 2   According to Michael Theatre Ltd., the mean cost to run a nightly theatre performance...

Psychology
1.2K views

I will confess a bias towards what I'm choosing to call the the \"old\" atheists (Sartre...

General Management
1.2K views

According to Porter’s Five Forces Model of competition, it characterizes industries driven by power relationships representing the...

Physics
1.2K views

A carbon resistor has a set of co axial coloured rings as shown The resistance...

Physics
1.2K views

bmerged at height Neglect Find the ter to a 7 40 A uniform rod of...

Algebra
1.2K views

Solve the system of equations If the system has no solution say that it is...

Accounting
1.2K views

Into what category does the following balance sheet item fall: Salaries Payable Intangible Liability Intangible...

Accounting
1.2K views

i need all 4 parts please asap ... ...

Accounting
1.2K views

16) Which of the following Acts created the Public Company Accounting Oversight Board to monitor...

Accounting
1.2K views

Intro to Finance question T = T =

Accounting
1.2K views

Accounting type Question: For the purpose of final accounts, stock is normally valued according to:...

Accounting
1.2K views

Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs...