Question: The 10 year historical demand data for a part is presented as follows: Determine the forecast for year 11 using the following forecasting approaches: a.
The 10 year historical demand data for a part is presented as follows:
Determine the forecast for year 11 using the following forecasting approaches:
a. Simple average
b. Simple 4-period moving average
c. Weighted 4-period moving average with: α1 = 0.4, α2 = 0.3, α3 = 0.2, α4 = 0.1
d. Exponentially weighted moving average with α = 0.75
e. Regression model
Year 1 2 3 4 5 6 7 8 9 10 Demand 2150 1900 2100 1850 2050 1900 2200 1900 2100 1850
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