Prepare a forecast of sales for each day starting with f1 , Ask an Expert

Management Studies

A grocery store sells the following number of frozen turkeys over the one-week period prior to Thanksgiving:

Monday 80
Tuesday 53
Wednesday 65
Thursday 43
Friday 85
Saturday 101

A. Prepare a forecast of sales for each day, starting with F1 = 85 and sigma = .2
B. compute the MAD and the tracking signal for the data given above in each period. Use MAD0 = 0
C. On the basis of the criteria given in the text, are the MAD and tracking signal within tolerance?
D. Recompute parts a and b using sigma = .1, .3 and .4. Which value of sigma provides the best forecast?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M981841

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