Question: Based upon the following historical data, calculate the following forecasts for each given forecasting method and then choose the best one to do the forecasts
Based upon the following historical data, calculate the following forecasts for each given forecasting method and then choose the best one to do the forecasts for the future. Actual Month Demand a Calculate the simple month moving average forecast for periods b Calculate the weighted month moving average using weights of and for periods c Calculate the exponential smoothing forecast for periods using an initial forecast F and an a of d Calculate the double exponential smoothing forecast for periods using an initial trend forecast T of and initial exponential smoothing forecast S of an a of and a b of pointse Calculate the Mean Absolute Deviation MAD for the forecasts made by each technique in periods Which forecasting method do you prefer? Using your preferred technique forecast the demands for the following months months
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