Question: Can you provide the Excel format along with the formulas for the following? Data Analytics and Demand Forecasting Task 1 : Answer the following Exercise
Can you provide the Excel format along with the formulas for the following? Data Analytics and Demand Forecasting
Task :
Answer the following Exercise questions. You may use the Excel examples provided in the lesson or use R If you used Excel, please upload the work files to show work. If you used R please upload the R history file or R script that you used.
points each
Quarterly demand for flowers at a wholesaler is as shown. Forecast demand for year using simple exponential smoothing with alpha as well as Holts model with alpha and beta Which of the two methods do you prefer? Why?
Year Quarter Sales
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
Weekly demand figures at Hot Pizza Oven are as follows:
Period
Demand
Estimate demand for the next weeks using a week moving average method.
Estimate demand for the next weeks using a simple exponential smoothing with alpha
Estimate demand for the next weeks using a simple exponential smoothing with alpha
For each of the above methods, calculate MAD, MAPE, MSE values using the forecasts for periods
Which forecasting method do you prefer? Why?
Monthly demand at Freds Electronics for mobile phones are as follows:
Month
Demand
Estimate demand for the next two months using a simple exponential smoothing with alpha You may use the level at period to be Laverage demand over months
Estimate demand for the next two months using a Holts model with alpha and beta You may use the level at period to be L and the trend in period to be Tobtained through regression model
Estimate demand for the next two months using a Holts model with alpha and beta You may use the level at period to be L and the trend in period to be Tobtained through regression model
Estimate demand for the next two months using a Holts model with alpha and beta You may use the level at period to be L and the trend in period to be Tobtained through regression model
Evaluate the MAD, MAPE, and MSE for each model.
Which method do you prefer? Why?
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