Question: Forecasting - Methods Comparison A manufacturing company has monthly demand for one of its products as follows: Month February March April May June July August

Forecasting - Methods Comparison A manufacturing

Forecasting - Methods Comparison A manufacturing company has monthly demand for one of its products as follows: Month February March April May June July August September Demand 520 490 550 580 600 420 510 610 A. Develop a three-period weighted moving average forecast with weights of 0.50, 0.30, and 0.20 for the most recent values, in that order. B. Develop an exponential smoothing forecast using a = 0.25. C. Calculate MAPE for each of the above methods, and indicate which method seems to be more accurate and why. D. How good is the chosen forecasting method in Part C and why

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