Forecasting methods in Excel
Not what you're looking for?
Coastal Fuel Oil is a distributor of fuel oil products in the Northeast. It contracts with shippers for deliveries of home heating oil and distributes product in its own trucks. Since its storage capacity is limited, and purchasing storage for fuel oil it cannot store itself is expensive, accurate demand forecast are valuable. Monthly data covering the past 10 years are given in the following table (see attachment):
a. Develop an appropriate forecast using a moving average approach.
b. Develop an appropriate forecast using a simple exponential smoothing approach.
c. Develop an appropriate forecast using exponential smoothing with trend (Holt's method.)
d. Develop an appropriate forecast using exponential smoothing with trend and cyclicality (Holt-Winters method).
e. Which of the four forecasts developed above would you recommend using?
Purchase this Solution
Solution Summary
The solution presents different methods of forecasting in Excel like Moving Average, Exponential smoothing - Holt Winters etc.
Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.