Use the Excel spreadsheet that accompanies this chapter to evaluate different forecasting models using the ice cream
Question:
Use the Excel spreadsheet that accompanies this chapter to evaluate different forecasting models using the ice cream sales data. Try the following parameters for the moving average and simple exponential smoothing models; n=1, 4, 8; alpha = 0.1, 0.5, 0.9. Which parameters yield the best forecasting model for the periods under evaluation?
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Use n 1 4 and 8 for the moving average forecasts and alpha 01 05 and 09 for the exponential smoothing forecasts The results show that a forecast that is more responsive to the actual demand has the lo...View the full answer
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Related Book For 
Managing Operations Across the Supply Chain
ISBN: 978-0078024030
2nd edition
Authors: Morgan Swink, Steven Melnyk, Bixby Cooper, Janet Hartley
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