Problem 3-2
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. 19
Apr. 12
May. 22
Jun. 18
Jul. 24
Aug. 22
b. Forecast September sales volume using each of the following:
(1)
A linear trend equation.(Round your intermediate calculations and final answer to 2 decimal places.)
Yt
thousands
(2)
A five-month moving average. (Round your answer to 2 decimal places.)
Moving average
19.6
thousands
(3)
Exponential smoothing with a smoothing constant equal to .30, assuming a March forecast of 17(000). (Round your intermediate forecast values and final answer to 2 decimal places)
Forecast
thousands
(4) The naive approach.
Naive approach
thousands
(5)
A weighted average using .60 for August, .10 for July, and .30 for June. (Round your answer to 2 decimal places.)
Weighted average
thousands
