View the step-by-step solution to:

Question

Assume that the Union Pearson Express has been operating for 2 months now. A What a Bagel! store located in the UP

Express waiting area has been very popular, selling many bagels to the passengers waiting for the next train.

In Table 1 below you will find historical data of the daily sales of the store for the last 3 weeks.

Use the simple exponential smoothing method to forecast the sales of the store for day 22.

·      What value did you use for the parameter alpha and why?

·      With the current information. What is your forecast for the day 23?截屏2020-02-09下午7.18.32.png

截屏2020-02-09下午7.18.32.png

Day
Sales (units)
Day
Sales (units)
148-
12~
258-
274-
3310
294-
296-
186(
292-
2674
1150
276-
2014
18
262-
297+
322-
20
1260
10
222~
372-
110
2560
Table 1. Historical sales data for What a Bagel!

Top Answer

The solution is... View the full answer

EXPONENTIAL.PNG

Sign up to view the full answer

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