View the step-by-step solution to:


Year t+1 follows Year t; Year 5 is the most recent year, e.g., 2019, and Year 1 is the oldest in the dataset,



1. Use Winters Method to forecast the Sales in Year 6 for months January thru' December. Assume that all smoothing parameters are equal to 0.1

2. One method for setting smoothing parameters α, β, and γ is to experiment with various values of the parameters that retrospectively give the best fit of previous forecasts to the observed history of the series. Changing these α, β, and γ values by hand can be very tedious. However, Excel and Excel Solver make it much easier to determine appropriate smoothing parameters. Develop a method using past forecast errors and Excel solver to come up with a way to pick "best" values for the smoothing parameters you used in part 1) to forecast demand in Year 6


Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Let our 24/7 Operations Management tutors help you get unstuck! Ask your first question.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors