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  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...

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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
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