Question: Forecasting Based on the information shown below, Month Actual Demand Jan 740 Feb 790 Mar 920 Apr 870 May 890 Jun 910 a. Develop forecasts

Forecasting

Based on the information shown below,

Month Actual Demand
Jan 740
Feb 790
Mar 920
Apr 870
May 890
Jun 910

a. Develop forecasts for July using an exponential smoothing model with =0.40. Assume the forecast for January was 760.

b. Calculate MAD, and MSE using the data from February to June.

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