TABLE 16-6
the Number of Cases of Merlot Wine Sold

question 161

Short Answer

TABLE 16-6
The number of cases of merlot wine sold by a Paso Robles winery in an 8-year period follows.
$$\begin{array} { c c } \underline{ \text { Year } }&\underline{\text { Cases of Wine }} \\{ 1991 } & 270 \\1992 & 356 \\1993 & 398 \\1994 & 456 \\1995 & 358 \\1996 & 500 \\1997 & 410 \\1998 & 376\end{array}$$
-Referring to Table 16-6, the Holt-Winters method for forecasting with smoothing constant of 0.8 for both level and trend will be used to forecast the wine sales. The forecast for 2002 is_____ .

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Definitions:

Economic Value

The worth of a good or service determined by the market, reflecting its utility, scarcity, and consumers' willingness to pay.

Equivalent

Equal in value, measure, force, effect, significance, etc.

Missing Value

A term used in statistics and data analysis to denote a data point that is not recorded or is unknown.

Calculate

To determine the amount or number of something by mathematical means.