Question: (a) Develop a forecast for July using (i) a simple exponential smoothing model with = 0.20, (ii) a simple exponential smoothing model with = 0.50,

(a) Develop a forecast for July using (i) a

(a) Develop a forecast for July using (i) a simple exponential smoothing model with = 0.20, (ii) a simple exponential smoothing model with = 0.50, and (iii) a 3-month moving average. Part

(a) continued

(b) Which of the three forecasting models in (a) above provides a better forecast based on MAD?

4. Wicker Widget Works (WWW), manufacturer of the world famous Western White Widget (W3), would like to build a forecasting system to assist in production planning and inventory control. Demand for the past 6 months is shown below. Month Sales Jan 100 Feb 90 Mar 95 Apr 100 May 105 Jun 95

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