GATE ME 2015 Set 1 — Question 54
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Industrial Engineering → Production Planning & Control → Forecasting Models
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Question
For a canteen, the actual demand for disposable cups was 500 units in January and 600 units in February. The forecast for the month of January was 400 units. The forecast for the month of March considering smoothing coefficient as 0.75 is __________
Correct answer
568 to 570
Solution
Using the exponential smoothing formula:
Given:
,
Step 1: Calculate the forecast for February ():
unitsStep 2: Calculate the forecast for March ():
unitsThe forecast for March is 568.75. The acceptable range is 568 to 570.
Given:
,
Step 1: Calculate the forecast for February ():
unitsStep 2: Calculate the forecast for March ():
unitsThe forecast for March is 568.75. The acceptable range is 568 to 570.
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