Question: FORECASTING please help explain! NEED HELP ASAP forecast actual demand error 2Q 2020 N/A 215 3Q 2020 N/A 210 4Q 2020 N/A 220 1Q 2021

FORECASTING please help explain! NEED HELP ASAP

forecast actual demand error
2Q 2020 N/A 215
3Q 2020 N/A 210
4Q 2020 N/A 220
1Q 2021 N/A 255
2Q 2021 N/A 235
3Q 2021 230 240 10
4Q 2021 237.5 270 32.5
1Q 2022 250 260 10
2Q 2022 251.25
  1. Using the 4-quarter moving average: What is the forecast for 3Q 2021, 4Q 2021, 1Q 2022, and 2Q 2022
  2. Compute the forecast for 3Q 2021, 4Q 2021, 1Q 2022, and 2Q 2022

using exponential smoothing (start with 3Q 2021) with a smoothing factor of .7.

forecast actual demand error
2Q 2020 215
3Q 2020 210
4Q 2020 220
1Q 2021 255
2Q 2021 235
3Q 2021 235 240 5
4Q 2021

(238.5)

239

270 31
1Q 2022

(260.7)

261

260 -1
2Q 2022 (260.3) 261

  1. Which forecast method provides a more accurate forecast?
  2. Compute the forecast for 3Q 2021, 4Q 2021, 1Q 2022, and 2Q 2022

using a weighted moving average technique. The most recent period is weighted at .45, second most recent at .4, and 3rd most recent at .1 and 4th most recent at .05.

  1. Compare the results from 4 to the results from 1 and 2. Now which forecast provides the more accurate forecast?
  2. If the exponential smoothing is calculated using a smoothing factor of .6 will the forecast error be smaller or larger?

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