What are the advantages of exponential smoothing over the moving average and the weighted moving average?
Answer to relevant QuestionsHow should the choice of α be made for exponential smoothing? The Easyfit tire store had demand for tires shown below. Split the data into two equal parts of seven days each. Assume F1 = 198. a. Develop a spreadsheet using the first seven days of demand to determine the best ...Compute the errors of bias and absolute deviation for the forecasts in problem 6. Which of the fore casting models is the best? Approximately how far ahead would one need to plan for the following types of facilities? a. Restaurant b. Hospital c. Oil refinery d. Toy factory e. Electric power plant f. Public school g. Private school S&OP or aggregate planning sometimes is con fused with scheduling. What is the difference?
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