Question: 5. Chapter 8, Problems, #18 follow the instructions in the text as modified here and you do not need to use the OM Explorer Time
5. Chapter 8, Problems, #18 follow the instructions in the text as modified here and you do not need to use the OM Explorer Time Series Forecasting Solver. Provide forecasts using only the following forecasting methods:
TEXT= "Franklin Tooling, Inc., manufactures specialty tooling for firms in the paper-making industry. All of its products are engineer-to-order and so the company never knows exactly what components to purchase for a tool until a customer places an order. However, the company believes that weekly demand for a few components is fairly stable. Component 135.AG is one such item. The past 26 weeks of historical use of component 135.AG is as follows"
a) a three-period moving average
b) a three-period weighted moving average forecast with weights of 0.7, 0.2, and 0.1
c) an exponential smoothing forecast, using a starting forecast of 140 for week one and an =0.25
Answer only question v) for only the following three performance criterion: 1) MSE, 2) MAD, and 3) MAPE.
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