Discuss the below in detail:
Q: Handy, Inc., produces a solar-power electronic calculator that experienced the following monthly sales history for the first three months of Year 2016, in 1,000s.
- Calculate the 3-month moving average forecast for the demand in April. For full credit, please include the formula, at least one step of calculation, and the correct answer for the forecast.
- Suppose the forecast for January was 30. Determine the forecast for February using exponential smoothing with a=0.2. For full credit, please include the formula, at least one step of calculation, and the correct answer for each forecast.
|
Month
|
Actual Sales
|
|
January
|
20
|
|
February
|
30
|
|
March
|
35
|