A manufacturing company has monthly demand for one of its products as follows: Month February March...
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A manufacturing company has monthly demand for one of its products as follows: Month February March April May June July August September Demand 520 490 550 580 600 420 510 610 A. Develop a three-period weighted moving average forecast with weights of 0.50, 0.30, and 0.20 for the most recent values, in that order. B. Develop a trend-adjusted exponential smoothing forecast using a = 0.2 and 3 = 0.4. Determine the seed using the naïve approach. C. Calculate MAPE for each of the above methods, and indicate which method seems to be more accurate and why. D. How good is the chosen forecasting method in Part C and why? E. Is the chosen method in Part C in control? Explain why or why not. A manufacturing company has monthly demand for one of its products as follows: Month February March April May June July August September Demand 520 490 550 580 600 420 510 610 A. Develop a three-period weighted moving average forecast with weights of 0.50, 0.30, and 0.20 for the most recent values, in that order. B. Develop a trend-adjusted exponential smoothing forecast using a = 0.2 and 3 = 0.4. Determine the seed using the naïve approach. C. Calculate MAPE for each of the above methods, and indicate which method seems to be more accurate and why. D. How good is the chosen forecasting method in Part C and why? E. Is the chosen method in Part C in control? Explain why or why not.
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A ThreePeriod Weighted Moving Average WMA WMA 050 Dt 030 Dt1 020 Dt2 Calculate the WMA for each m... View the full answer
Related Book For
Management Accounting
ISBN: 9780077185534
6th Edition
Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen
Posted Date:
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