Purchase Solution

Petroco Service Station: Exponentially smoothed forecast & MAPD

Not what you're looking for?

Ask Custom Question

The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales during the past 10 months:

Month Gasoline Demanded (gal.)
October 800
November 725
December 600
January 500
February 625
March 690
April 810
May 935
June 1,200
July 1,100

a. Compute an exponentially smoothed forecast, using an α value of 0.30.
b. Compute the MAPD.

Purchase this Solution
Solution Summary

The solution comprises of detailed calculations of Exponential Smoothing Forecast and MAPD in Excel.

Solution provided by:
Anwesha Ghosh, MSc
Education
  • MSc, Osmania University
  • MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
  • BSc, Banaras Hindu University
Recent Feedback
  • "Very fast turnaround. Excellent communication! Much appreciated!"
  • "excellent"
  • "excellent"
  • "excellent work"
  • "Fantastic..great solution and very well explained!!!!"
Purchase this Solution
Free BrainMass Quizzes
Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

View More Free Quizzes
Related BrainMass Solutions

  • Exponentially Smoothed Forecast

    313621 Exponentially Smoothed Forecast, Adjusted Exponentially Smoothed Forecast, Mean Absolute Percentage Deviation(MAPD) and Comparison The manager of Petroco service station wants to forecast the demand for unleaded gasoline next month so that the

  • Exponentially Smoothed Forecast, MAD, MAPD in EXCEL

    281102 Exponentially Smoothed Forecast, MAD, MAPD in EXCEL The manager fo the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor.

  • Management Science: Forecasting

    The manager of the Petroco Service station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor.

  • Computing an Exponentially Smoothing Forecast

    150015 Computing an exponentially smoothing forecast The manager of the BP Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor.

  • Forecasting using Moving Average and Linear Regression

    Compute and exponentially smoothed forecast, using on α value of .30. b. Compute an adjusted exponentially smoothed forecast (with α =.30 and β=.20). c.

  • Forecast and Regression Analysis

    This solution is comprised of detailed step-by-step calculations and explanation of various Forecast Techniques like Moving Average Forecast, Exponentially Smoothed Forecast, Adjusted Exponentially Smoothed Forecast etc. and various Forecast Accuracy

  • When using the exponentially weighted moving average for purposes of forecasting rather than smoothing

    90083 Exponentially weighted moving average for purpose of forecasting When using the exponentially weighted moving average for purposes of forecasting rather than smoothing A. the previous smoothed value becomes the forecast B. the current smoothed

  • Forecast

    A 3-Month Simple Moving Average Forecast and an Exponentially Smoothed Moving Average Forecast has been performed in EXCEL.

  • Mathematics

    The Manager of the Petroco service station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor.

View More Related Solutions