To predict the future values using Exponential trend method.
Question 1: Sales of cool-Man air conditioners have grown steadily during the past five years.
|
Year
|
Sales
|
|
1
|
450
|
|
2
|
495
|
|
3
|
518
|
|
4
|
563
|
|
5
|
584
|
|
6
|
?
|
The sales manager had predicted, before the business started, that year 1's sales would be 410 air conditioners. Using exponential smoothing with a weight of alpha = 0.30, develop forecasts for years 2 through 6.
Question 2: Using smoothing constants of 0.6 and 0.9, develop forecasts for the sales of Cool-Man air conditioner.
Question 3: Using the trend projection method, develop a forecasting model for the sales of Cool-Man air conditioners.