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The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:
- a)431
- b)9587
- c)10706
- d)11000
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
The demand and forecast for February are 12000 and 10275, respectively...
According to single exponential smoothing method
Most Upvoted Answer
The demand and forecast for February are 12000 and 10275, respectively...
Single Exponential Smoothing Method
Single exponential smoothening method is a time series forecasting method that uses a weighted average of past observations to predict future values.
Formula for Single Exponential Smoothing
Ft+1 = α * At + (1-α) * Ft
Where,
Ft+1 = Forecast for the next period
At = Actual value for the current period
Ft = Forecast for the current period
α = Smoothening coefficient (0< />< />
Given Data
Demand for February = 12000
Forecast for February = 10275
Smoothening coefficient (α) = 0.25
Calculation
Using the formula for single exponential smoothing, we can find the forecast for March:
Ft+1 = α * At + (1-α) * Ft
Ft+1 = 0.25 * 12000 + (1-0.25) * 10275
Ft+1 = 3000 + 7706.25
Ft+1 = 10706.25
Therefore, the forecast for the month of March is 10706.25, which is closest to option C (10706).
Single exponential smoothening method is a time series forecasting method that uses a weighted average of past observations to predict future values.
Formula for Single Exponential Smoothing
Ft+1 = α * At + (1-α) * Ft
Where,
Ft+1 = Forecast for the next period
At = Actual value for the current period
Ft = Forecast for the current period
α = Smoothening coefficient (0< />< />
Given Data
Demand for February = 12000
Forecast for February = 10275
Smoothening coefficient (α) = 0.25
Calculation
Using the formula for single exponential smoothing, we can find the forecast for March:
Ft+1 = α * At + (1-α) * Ft
Ft+1 = 0.25 * 12000 + (1-0.25) * 10275
Ft+1 = 3000 + 7706.25
Ft+1 = 10706.25
Therefore, the forecast for the month of March is 10706.25, which is closest to option C (10706).
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The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer?
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