Hugo Enterprises (HE) is a small oil services firm in the Houston area. For the upcoming...
|
Hugo Enterprises (HE) is a small oil services firm in the Houston area. For the upcoming production period, Hugo must forecast demand for X200. Historical demand is given in the table below. Use exponential smoothing with alpha = 0.7 to forecast period 4. (Round all calculations to two decimal places) |
|
Period |
Demand |
|
1 |
500 |
|
2 |
536 |
|
3 |
600 |
Forecast for Period 4 = Units
Homework Answers
F(t) = F(t-1) + (Alpha * (A(t-1) - F(t-1)))
FORECAST 2 = 500 + (0.7 * (500 - 500)) = 500
FORECAST 3 = 500 + (0.7 * (536 - 500)) = 525.2
FORECAST 4 = 525.2 + (0.7 * (600 - 525.2)) = 577.56
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