National Scan Inc. sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000) Units
Feb 19
Mar 18
Apr 15
May 20
Jun 18
Jul 22
Aug 20
b. Forecast September sales volume using each of the following:
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(1) Thenaiveapproach.
(2) A five month moving average.
(3) A weighted average using .60 for August, .30 for July, and .10 for June.
(4) Exponential smoothing with a smoothing constant equal to .20, assuming a a March
forecast of 19(000).
(5) Alineartrendequation.
b. Forecast September sales volume using each of the following as shown below:
1. (1) The naive approach.
The naïve approach takes last period sales as the forecast for next period. Hence, the naïve forecast for September is 20,000 units |
2. (2) A five month moving average
Forecast for September using 5 month moving average is 19000 units
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3. (3) A weighted average using .60 for August, .30 for July, and .10 for June.
Forecast for September using weighted moving average is 20,4000 units
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4. (4) Exponential smoothing with a smoothing constant equal to 0.20, assuming a March forecast of 19(000).
Forecast for September = 19261.18 units
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5. (5) A linear trend equation
National Scan Inc. sells radio frequency inventory tags. Monthly sales for a seven-month period were as...
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: MonthSales(000)UnitsFeb.15Mar.18Apr.12May.20Jun.23Ju1.23Aug -27b. Forecast September sales volume using each of the following: (1)A linear trend equation.(2) A five-month moving average. (3) Exponential smoothing with a smoothing constant equal to .25, assuming a March forecast of 17(000).(4) The naive approach. (5) A weighted average using.55 for August, .10 for July, and .35 for June.
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