Purchase Solution

Forecasting methods in Excel

Not what you're looking for?

Ask Custom Question

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?

Attachments
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.