An electrical contractor’s records during the least five weeks indicate the numb

Question

An electrical contractor’s records during the least five weeks indicate the number of job requests: Week 1 2 3 4 5 Request 23 25 16 26 24 Predict the number of requests for week 6 using each of the following methods: 1) Naïve approach 2) 3 – period moving average 3) 4-period moving average 4) Weighted moving average using 0.60 for period 5, 0.3 for period 4 and 0.1 for period 3 5) Exponential smoothing with ? = 0.30; use 22 for week 2 forecast Question 2: This question is worth 5 points A cosmetics manufacturers marketing department has developed a linear trend equation that can be used to predict annual sales of its popular Hand & Foot Cream. Ft = 65 + 10t Where Ft = Annual sales (000 bottles) t is in years a) Are the sales increasing or decreasing? b) Predict the sales for year 8 using the equation.

Explanation / Answer

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Question 1:

1

Part: i

Part: ii

Part: iii

Part: iv

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