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MGT 320 Burger Lover Restaurant case study
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Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Based on historical observations over the past five weeks, make a forecast for the next period using the following methods: simple average, three-period moving average, and exponential smoothing with α = 0.3, given a forecast of 3...

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Document information

  • August 16, 2021
  • 2
  • 2021/2022
  • Case
  • Douglas
  • A+

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  • mgt 320burger lover restaurant

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  • MGT 320Burger Lover Restaurant
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Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Based on historical
observations over the past five weeks, make a forecast for the next period using the
following methods: simple average, three-period moving average, and exponential
smoothing with α = 0.3, given a forecast of 328 cheeseburgers for the first week.
Week ……………… Cheeseburger Sales
1 ……………………………… 354
2 ……………………………… 345
3 ……………………………… 367
4 ……………………………… 322
5 ……………………………… 356




m
er as
If actual sales for week 6 turn out to be 368, compare the three forecasts using MAD.




co
eH w
Which method performed best?




o.
SOLUTION rs e
ou urc
Period 6 Forecasts:
o

Simple average: F6 = 348.8
aC s


3-Period moving average: F6 = 348.33
vi y re


Exponential smoothing: Using the fifth period forecast of 328, F6 = 336.40

Looking at the error only in period 6,
MAD (simple average) = |368 – 348.8| = 19.2
ed d




MAD (3-Period moving average) = |368 – 348.33| = 19.67
ar stu




MAD (exponential smoothing) = |368 – 336.40| = 31.60

The simple average provides the best historical fit using the MAD criterion.
is
Th
sh




This study source was downloaded by 100000823518935 from CourseHero.com on 08-16-2021 13:35:43 GMT -05:00


https://www.coursehero.com/file/12749033/Burger-Lover-Restaurant/

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