Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model
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Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts:
a. What value of ( is Wamaco Corp using in its forecasting model?
b. Calculate the forecast for period 7 for product 1 and product 2.
c. Using the first six periods of data, calculate the Bias (MFE), MAD, MPE, and MAPE. Does the forecasting model provide about the same bias and accuracy for both products? What would you recommend?
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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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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