The Global Machine Manufacturing Company, Q5. manufacturing Heavy Machines in the Sultanate of Oman. The company has decided to buy a new advance machine to produce the different equipment's. The decision will rest partly on the anticipate sales of machines in the coming months. The actual numbers of machines sold during the past years are as follows: Year Number of machines |(Actual) 2014 1000 2015 1200 2016 1400 2017 1550 2018 1725 2019 1860 2020 2025 Forecast the sales for the year of 2021 using a 3-Year moving average method. Forecast the sales for the year of 2021 using a 3-Year weighted moving average, with weights of 5, 3 and 2. Using 5 for the most recent Year. Compute the forecast for the year 2021 using exponential smoothing with a = 0.5. (Assume the forecast for 2014 was 900 Machines) a. b.
The Global Machine Manufacturing Company, Q5. manufacturing Heavy Machines in the Sultanate of Oman. The company has decided to buy a new advance machine to produce the different equipment's. The decision will rest partly on the anticipate sales of machines in the coming months. The actual numbers of machines sold during the past years are as follows: Year Number of machines |(Actual) 2014 1000 2015 1200 2016 1400 2017 1550 2018 1725 2019 1860 2020 2025 Forecast the sales for the year of 2021 using a 3-Year moving average method. Forecast the sales for the year of 2021 using a 3-Year weighted moving average, with weights of 5, 3 and 2. Using 5 for the most recent Year. Compute the forecast for the year 2021 using exponential smoothing with a = 0.5. (Assume the forecast for 2014 was 900 Machines) a. b.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education