1. Evaluate the forecasting model using a 3-month moving average, and 3 month moving weighted average, and...

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1. Evaluate the forecasting model using a 3-month moving average, and 3 month moving weighted average, and exponential. The weights are .5 for the most recent demand, .25 for the other months. Alpha = .3. Use the weighted moving average for January Forecast.

	Actual Demand
Oct	300
Nov	360
Dec	425
Jan	405
Feb	430
March	505
April	550
May	490

2. Calculate MAD and MAPE for each and compare. Which method is a better forecast and why?

Related Book For answer-question

Statistics for Business Decision Making and Analysis

ISBN: 978-0321890269

2nd edition

Authors: Robert Stine, Dean Foster

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Posted Date: Sep 03, 2020 05:00 AM

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1. Evaluate the forecasting model using a 3-month moving average, and 3 month moving weighted average, and...

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Statistics for Business Decision Making and Analysis

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