Given the following data for demand at the XYZ Company, calculate the monthly forecast using a...

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Given the following data for demand at the XYZ Company, calculate the monthly forecast using a 3-month moving average and simple exponential smoothing (SES) with a = 0.4. When using SES, use the overall demand average as the first forecast. n n Useful formula : E, = F, – D,; MAD, = -|E,|; Bias =Ź E₁, TS, Bias, = nt-1 MAD t=1 (a) Calculate the mean absolute deviation (MAD), bias, and the tracking signal (TS). (Note: Keep your answers to 2 d.p.) (20%) (b) Which method is better and why? (2%) (c) Is it possible to improve the method in (b)? If yes, how? (2%) • Provide your answers to (a) in the tables below (DO NOT modify the table format). Alternatively, you may upload your answers to (a) using the given template. . 3-period moving average Period Demand Forecast Error Abs JAN 2000 FEB 3000 MAR 3000 APR 3000 MAY 4000 MAD Bias TS Activate Window Given the following data for demand at the XYZ Company, calculate the monthly forecast using a 3-month moving average and simple exponential smoothing (SES) with a = 0.4. When using SES, use the overall demand average as the first forecast. n n Useful formula : E, = F, – D,; MAD, = -|E,|; Bias =Ź E₁, TS, Bias, = nt-1 MAD t=1 (a) Calculate the mean absolute deviation (MAD), bias, and the tracking signal (TS). (Note: Keep your answers to 2 d.p.) (20%) (b) Which method is better and why? (2%) (c) Is it possible to improve the method in (b)? If yes, how? (2%) • Provide your answers to (a) in the tables below (DO NOT modify the table format). Alternatively, you may upload your answers to (a) using the given template. . 3-period moving average Period Demand Forecast Error Abs JAN 2000 FEB 3000 MAR 3000 APR 3000 MAY 4000 MAD Bias TS Activate Window