Learning Exercise

The Buggy Palace Sales Forecasting Exercise

The assignment teaches how to apply simple forecasting techniques: naive forecast, moving average, and exponential smoothing. The students are required to do one of this forecasts manually and then put the result on computer. The computer compares the student's result with the correct one and gives the feedback to the student. If the student's result is not correct, he/she is required to repeat one more time. This assignment can be used to improve student skills in developing simple forecasts. It may be applied in the several undergraduate courses, specifically in an introductory course in Management Science, Quantitative Business Methods, Operations Management, and Marketing/Sales.
Course: Management Science, Quantitative Business Methods, Operations Management, Marketing/Sales Management
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The Buggy Palace is a self-scoring forecasting exercise which enables students to solve a series of sales forecasting... see more

Exercise


  1. Reserve the computer lab for the class.

  2. Before using the exercise, explain in class the following
    forecasting techniques: naive forecast, moving average, and exponential smoothing.

  3. Explain the objectives and rules of the exercise. Show an
    example on how to use the exercise.

  4. Give the students about 15-20 minutes for using the
    exercise online.

  5. Monitor students' performance and help them to proceed
    with the exercise.

  6. Discuss with the students the results of their work and
    their perception about the online exercise.

Disciplines

Topics

Simple forecasting techniques: naive forecast, moving average, and exponential smoothing

Learning Objectives

1.Understanding formulas of the simple forecasting techniques: naive forecast, moving average, and exponential smoothing. 2. Applying simple forecasting techniques