Question: ( Forecasting ) Weekly demand for a product is given in the table below: table [ [ Week , 1 , 2 , 3

(Forecasting) Weekly demand for a product is given in the table below:
\table[[Week,1,2,3,4,5,6,7,8,9,10],[\table[[Demand],[(units)]],24,25,27,26,29,31,32,32,35,37]]
(a) Using Microsoft Excel, plot the weekly demands, and comment on it by considering the components of a time series.
(b) Apply the 5-week moving average method to make forecasts for weeks 6 through 10.
(c) Take the estimated value of the level at the end of week 5 as the moving average value computed in part (b) for week 5. Choose =0.2. Apply the method of simple exponential smoothing to determine single-week-ahead forecasts for demands 6 through 10.
(d) Choose =0.2 and =0.3 and apply the method of double exponential smoothing to determine single-demand-ahead forecasts for demands 6 through 10.
(e) Using Microsoft Excel, on the same graph, plot the forecast errors of the methods in parts (b),(c), and (d). Do you observe any bias in the methods in parts (b),(c), and (d)? Show your answer by any method of measuring bias.
(f) Consider the forecast errors of the method of double exponential smoothing. Compute 95.5 percent control limits for the forecast errors, assuming that the forecast errors are normally distributed. Using Microsoft Excel, draw a control chart for the forecast errors, and check whether the forecast errors are in control.
(g) Which of the forecasting methods in parts (b),(c), and (d) do you select for implementation? Show your work.
 (Forecasting) Weekly demand for a product is given in the table

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