Question: believe C is just using the given values in the equation: New forecast = last forecast + constant(last demand - last forecast) last forecast =
believe C is just using the given values in the equation:
Jama Plastics, Calgary, recorded the following actual Demand for her Plastic products in the during the First Quarter of the year 2019 on a Weekly Basis; Weeks Weights January 2019 Demand 280 350 187 250 288 320 300 February 2019 210 Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Week 11 Week 12 Week 13 (?) March 2019 320 346 300 310 298 0 April 2019 .3 Required: a. Forecast the demand for Week 13 (i.e. third Week of April 2019), using a 6-week moving average. (10 Marks) b. Use a 5-week Weighted Moving Average, with weights of 0.4, 0.3, 0.1, 0.1 and 0.1, using 0.4 for the most recent week (in the aforelisted order), forecast the demand for week 13. (10 Marks) c. Compute the forecast using exponential smoothing with a forecast of 320 units and actual Demand of 347 units at -0.3.10 Marks)
New forecast = last forecast + constant(last demand - last forecast)
last forecast = 320
last demand = 347
constant = 0.3
so new forecast = 328.1
should be the answer for c
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