a) The following table shows the forecasts for a data set comprised of 12 variables, according to exponential smoothing with =0.5 method. (please write 2-digit decimal numbers as answers)

Complete the blank cells in the Table.

period	sales	forecast (Exp. Sm. with alpha = 0.5)	error	absolute error
1	300	300.00	-	-
2	250	300.00	-50.00	50.00
3	270	275.00	-5.00	5.00
4	320	272.50	47.50	47.50
5	240	296.25	-56.25	56.25
6	330	268.13	61.88	61.88
7	280	299.06	-19.06	19.06
8	310	Answer	Answer	Answer
9	350	Answer	Answer	Answer
10	340	Answer	Answer	Answer
11	290	Answer	Answer	Answer
12	320	Answer	Answer	Answer
sum	3600		31.22	376.73

b) Compute the MFE (mean forecast error) and MAD (mean absolute deviation) values of the above forecasting method.

MFE = Answer360031.22376.73 /Answer = Answer (please write a 2-digit decimal number for this blank)

MAD = Answer360031.22376.73 /Answer = Answer (please write a 2-digit decimal number for this blank)

c) Assume that the above Table shows the monthly demand distribution of the given product, i.e. each point in the Table is observed with a probability of 1/12. If the inventory management policy that is used for this product is (I, S) policy with I=1 month, S = 300, compute the fill rate and the service level. (Hint: Average demand per replenishment cycle would be equal to the average demand in I=1 month.) Average demand per replenishment cycle = Answer (please write an integer value for this blank) Average number of backorders replenishment cycle = Answer