UCLA Deman Forecast Paper
Description
1.Suppose the previous forecast was 30 units, actual demand was 50 units, and ∝ = 0.15; compute the new forecast using exponential smoothing. *2.Given the information below and using the linear trend equation, determine the appropriate equation. *3. A manager of a store that sells and installs spas wants to prepare a forecast for January, February, and March of next year. Her forecasts are a combination of trend and seasonality. She uses the following equation to estimate the trend component of monthly demand: Ft = 70 + 5t, where t = 0 in June of last year. Seasonal relatives are 1.10 for January, 1.02 for February, and .95 for March. What demands should she predict?4.Compute seasonal relatives for this data using the simple average method: *
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