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. 17
Mar. 18
Apr. 14
May. 21
Jun. 18
Jul. 25
Aug. 23
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_______ thousands
(3) Exponential smoothing with a smoothing constant equal to .10, assuming a March forecast of 19(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