Here are the actual tabulated demands for an item for a nine-month period (January through September)....

Transcribed Image Text:

Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 115 February 133 March 151 April 169 May 162 June 179 July 141 134 134 August September a. Forecast April through September using a three-month moving average. Note: Round I your answers to 2 decimal places. Month April May Three-Month Moving Average June July August September b. Use simple exponential smoothing with an alpha of 0.30 to estimate April through September, using the overage of January through March as the initial forecast for April. Note: Round your answers to 2 decimal places. Month Exponential Smoothing April May June July August September c-1. Calculate MAD for each method. Note: Round your answers to 2 decimal places. Three month moving average Exponential smoothing MAD c-2. Use MAD to decide which method produced the better forecast over the six-month period. Exponential smoothing. Three-month moving average. Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 115 February 133 March 151 April 169 May 162 June 179 July 141 134 134 August September a. Forecast April through September using a three-month moving average. Note: Round I your answers to 2 decimal places. Month April May Three-Month Moving Average June July August September b. Use simple exponential smoothing with an alpha of 0.30 to estimate April through September, using the overage of January through March as the initial forecast for April. Note: Round your answers to 2 decimal places. Month Exponential Smoothing April May June July August September c-1. Calculate MAD for each method. Note: Round your answers to 2 decimal places. Three month moving average Exponential smoothing MAD c-2. Use MAD to decide which method produced the better forecast over the six-month period. Exponential smoothing. Three-month moving average.