Jim's Department at a Local Department Store Has Tracked the Sales

question 120

Essay

Jim's department at a local department store has tracked the sales of a product over the last ten weeks. Forecast demand using exponential smoothing with an alpha of 0.4, and an initial forecast of 28.0 for period 1. Calculate the MAD. What do you recommend?
$$\begin{array} { | c | c | } \hline \text { Period } & \text { Demand } \\\hline 1 & 24 \\\hline 2 & 23 \\\hline 3 & 26 \\\hline 4 & 36 \\\hline 5 & 26 \\\hline 6 & 30 \\\hline 7 & 32 \\\hline 8 & 26 \\\hline 9 & 25 \\\hline 10 & 28 \\\hline\end{array}$$

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Definitions:

Nature‒Nurture Interactions

The complex interplay between genetic inheritance (nature) and environmental influences (nurture) in shaping the behavior, personality traits, and physical characteristics of an individual.

Individualism

A theory in society that prioritizes individual freedom over the control of groups or government.

Pruning Process

The brain's way of shedding unnecessary neuronal connections while strengthening those that are used more frequently, crucial for healthy brain development.

Selective Mating

The process by which individuals choose mates based on specific traits, potentially guiding the genetic characteristics of offspring.