Prepare a forecast using exponential smoothing

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Reference no: EM13821857

A rental car manager estimates the number of full-size sedans rented per week so that she can maintain adequate number of cars in the lot.

Data for the past 10 weeks are shown here: 

Week

Rentals

Week

Rentals

1

23

6

28

2

24

7

32

3

32

8

35

4

26

9

26

5

31

10

24

 a)Prepare a forecast through week 11 by using a five –week moving average. 

b)Prepare a forecast through week 11 by using a 3-period weighted moving average, giving the weight of 0.5 to themost recent week, 0.3 to the second week and 0.2 to the third week. 

c)Prepare a forecast using exponential smoothing method with α = 0.2. Forecast for week 1 was 22. 

Prepare a forecast through week 11 by using a regression model Y= 26.33 + 0.3212X 

d)Which method is preferred for this data if mean absolute deviation (MAD) is used? 

e)Make a recommendation for number of full-size sedans for a week.

Reference no: EM13821857

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inf821857

2/20/2017 5:26:04 AM

Thank you particularly for the snappy reaction. Normally it never goes to jubk mail and I checked for friday junk yet it was in Wed junk. A debt of gratitude is in order for your assistance. This is the reason I adore Expertsmind :)

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