Question: 6) The monthly demand for a given product is given by the table below. Month Demand 1 68 2 75 3 73 4 69 5

6) The monthly demand for a given product is

6) The monthly demand for a given product is given by the table below. Month Demand 1 68 2 75 3 73 4 69 5 70 6 72 7 68 8 71 9 70 10 73 11 69 a) Draw the graph for the demand b) Calculate the demand forecast for the period 12 using the exponential smoothing with alpha equal to 0.1 c) Calculate the demand forecast for the period 12 using the exponential smoothing with alpha equal to 0.6 d) What happens to the demand forecast when I use alpha equal to 0.1 and then alpha equal to 0.6? e) Check that the model generates acceptable errors

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!