The Number of Pizzas Ordered on Friday Evenings Between 5:30

question 1

Essay

The number of pizzas ordered on Friday evenings between 5:30 and 6:30 at a pizza delivery location for the last 10 weeks is shown below.Use exponential smoothing with smoothing constants of 0.2 and 0.8 to forecast a value for Week 11.Compare your forecasts using MSE.Which smoothing constant would you prefer?
58,46,55,39,42,63,54,55,61,52

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Definitions:

Cost of Goods

The total direct costs attributable to the production or purchase of goods sold by a company, including materials and labor.

Completed and Transferred

A term used in manufacturing to describe goods that have been finished and moved to the next stage of production or to inventory.

Cost of Production Report

A cost of production report summarizes the production and cost activity within a manufacturing department for a specific period, tracking the flow of units and the accumulated costs.

Conversion Costs

The costs incurred to convert raw materials into finished goods, typically including labor and overhead.