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Math Applied Mathematics 2022/23 (question with answer 100% correct)
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Question Answered step-by-step Sales of Cool -Man air conditioners have grown steadily during the past 5 years as shown in Table 1. The sales manager had predicted, before business started, that ye... ar 1's sales would be 410 air conditioners. YEAR SALES 1 450 2 495 3 518 4 563 5 584 6 ? (a) Using exponential smoothing with a weight of α = 0.30, develop forecasts for year 2 through 6. (b) Using smoothing constants of 0.6 and 0.9, develop forecasts the sales of Cool-Man air conditioners. (C) What effect did the smoothing constant have on the forecasts for Cool-Man air conditioners? Compare answer in (a) and (b), which smoothing constant gives the most accurate forecast? (d) Use a three-year moving average forecasting model to forecast the sales of Cool-Man air conditioners. (e) Using the Trend projection method, develop forecasting model for the sales of Cool- Man air conditioners. (f) Refer to answer in (a), (c) and (d), which method that you would use to predict the sales of Cool-Man air conditioners? [Show More]
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