Problem
National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows:
| Month |
Sales
(000)Units |
| Feb. |
15 |
| Mar. |
16 |
| Apr. |
13 |
| May. |
20 |
| Jun. |
20 |
| Jul. |
23 |
| Aug. |
25 |
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 .20, assuming a March forecast of 17(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 .50 for August, .10 for July, and .40 for June. (Round your answer to 2 decimal places.)
Weighted average
thousands