Question: Hello, I need help solving this problem. Here is the complete question. Please help me solve this problem as soon as possible. FC.61 lntermount Wood
Hello, I need help solving this problem. Here is the complete question. Please help me solve this problem as soon as possible.

FC.61 lntermount Wood Products produces finished wood products made from various materials. One of their newer products, reclaimed red oak flooring, is fast becoming a best seller. However, the newness of the product makes it difficult to predict demand. The actual demand for reclaimed red oak flooring during the last 10 months (in square feet) is as follows: W Square Feet Seld | Jan | 10,531 11,145 | Feb | 9,595 | Mar | 10,882 Apr 11 ,306 May 12,088 Jun 9,654 Jul 10,968 | Aug | 12,198 I Sep I 11 ,588 I Got I 12,386 Suppose at the start of this year, before Intermount had any data on actual sales, they forecasted that January sales would be 11,145 square feet. Assuming they used an alpha value of 0.45 and that actual January sales materialized as shown in the table above (10,581 square feet), what would have been their forecast for the month of February? (Display your answer to m decimal places.) Number If you follow this same forecasting process through all the months, continuing with March and going through October, what would be the forecast in the month of October? (Display your answer to two decimal places.) Number What is the MAD for this forecast (based on 10 months of forecasts-January through October)? (Display your answer to two decimal places.) Number What is the MAPE for this forecast (based on 10 months of forecasts-January through October)? (Write your answer as a percentage, and display your answer to two decimal places.) /u
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
