The chairperson of the department of management at Tech University wants to forecast the number of students
Question:
The chairperson of the department of management at Tech University wants to forecast the number of students who will enroll in operations management next semester in order to determine how many sections to schedule. The chair has accumulated the following enrollment data for the past eight semesters:
Semester Students Enrolled in OM
1 ................................................................ 270
2 ................................................................ 310
3 ................................................................ 250
4 ................................................................ 290
5 ................................................................ 370
6 ................................................................ 410
7 ................................................................ 400
8 ................................................................ 450
a. Compute a three-semester moving average forecast for semesters 4 through 9.
b. Compute the exponentially smoothed forecast (α = 0.20) for the enrollment data.
c. Compare the two forecasts using MAD and indicate the most accurate.
Step by Step Answer:
Operations Management Creating Value Along the Supply Chain
ISBN: 978-1118301173
1st Canadian Edition
Authors: Roberta S. Russell, Bernard W. Taylor, Ignacio Castillo, Navneet Vidyarthi