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Sales of Youngs Foods popular Mayonnaise have grown steadily at a distributor in Lahore during...

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Finance

Sales of Youngs Foods popular Mayonnaise have grown steadily at a distributor in Lahore during the past 5 years (see table below). The sales manager had predicted before the new variant was introduced that first-year sales would be 460. Using exponential smoothing with a weight of alpha = 0.30, develop forecasts for years 2 through 6.image

UNIVERSITY Year Sales Forecast 1 500 460 2 545 3 568 4 613 5 634 6 ? Hint: you can use the below formula to solve the problem New forecast = Last period's forecast + a (Last period's actual demand Last period's forecast)

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