Question: Example: Forecasts and Forecast Accuracy Given the demand data that follow, A. Prepare a nave forecast for periods 2 through 6. B. Prepare an exponential

Example: Forecasts and Forecast Accuracy Given the demand data that follow, A. Prepare a nave forecast for periods 2 through 6. B. Prepare an exponential smoothing forecast for periods 2 through 6. Assume that period 2 forecast is 118. Use alpha = 0.3. C. Using MSE as a criterion, which of the above techniques has the better performance record? Period 1 2 8 4 Demand 118 117 120 119 126 122 5 6

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