Determine the forecast for next wednesday

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Reference no: EM131251458

For the data in exercise, update the fast-food restaurant forecast if a trend value of 1.4 was calculated for the previous week. Use a β of 0.3 to update the trend for this week, and determine the forecast for next Wednesday using exponential smoothing with trend adjustment.

exercise:-

During the noon hour this past Wednesday at a fast-food restaurant, 72 hamburgers were sold. The smoothed value calculated the week before was 67. Update the forecast for next Wednesday using simple exponential smoothing and an of 0.1.

Reference no: EM131251458

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