Find forecast for hamburger demand by exponential smoothing, Operation Management

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Find forecast for hamburger demand by exponential smoothing

Problem:

Consider the following actual and forecast demand levels for hamburgers at a local restaurant:

Day               Actual Demand    Forecast Demand
Monday            88                           88
Tuesday            72                           88
Wednesday       68                           84
Thursday           48                           80
Friday

The forecast for Monday was derived by observing Monday's demand level and setting Monday's forecast level equal to this demand level. Subsequent forecasts were derived by using exponential smoothing with a smoothing constant of 0.25.

Required;

Question 1) Using this exponential smoothing method, what is the forecast for hamburger demand for Friday? Solve the given numerical problem and illustrate step by step calculation.

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Operation Management: Find forecast for hamburger demand by exponential smoothing

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Operation Management: Find forecast for hamburger demand by exponential smoothing

Reference No:- TGS0882904

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Recent Questions Asked Operation Management

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Ask an Expert for Answer!!

Operation Management: Find forecast for hamburger demand by exponential smoothing

Reference No:- TGS0882904

Recent Questions Asked Operation Management

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Q : Partnership assets to buy interest

Q : Calculate the total dividends and the per-share dividends

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