Chapter 8, Problems, #18 -follow the instructions in the text as modified here and you do not need to use the OM Explorer Time Series Forecasting Solver.

• Provide forecasts using only the following forecasting methods:

a) a three-period moving average

b) a three-period weighted moving average forecast with weights of 0.7, 0.2, and 0.1

c) an exponential smoothing forecast, using a starting forecast of 140 for week one and an ?=0.25

• Answer only question v) for only the following three performance criterion: 1) MSE, 2) MAD, and 3) MAPE.

[D] Franklin Tooling, Inc., manufactures specialty tooling for firms in the paper-making industry. All of its products are engineer-to-order and so the company never knows exactly what components to purchase for a tool until a customer places an order. However, the company believes that weekly demand for a few components is fairly stable. Component 135.AG is one such item. The past 26 weeks of historical use of component 135.AG is as follows:

Week Demand Week Demand L 137 14 131 2 136 15 132 3 143 16 124 4 136 17 121 5 141 18 127 6 128 19 118 7 149 20 120 8 136 21 115 9 134 22 106 10 142 23 120 11 125 24 113 12 134 25 121 13 118 26 119