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Consider the following actual and forecast demand levels for
Consider the following actual and forecast demand levels for.
Consider the following actual and forecast demand levels for Big Mac hamburgers at a local McDonald’s restaurant:
|
Day |
Actual demand |
Forecast demand |
|
Monday |
88 |
88 |
|
Tuesday |
72 |
88 |
|
Wednesady |
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. Using this exponential smoothing method, what is the forecast for Big Mac demand for Friday?
Consider the following actual and forecast demand levels for