HST$400$ Week $4$ Exercise

Please use the posted Excel template for this question and submit your completed Excel file. Provide your answers to each of the following parts on a different worksheet $($in the provided worksheets for methods #$1$ and #$2$ in the same file$).$

The ABC Corporation has collected the following data on its daily sales in the past $4$ weeks. The company only operates from Monday to Friday.

$4$ Weeks Ago

$3$ Weeks ago

$2$ weeks Ago

Last week

Method#$1$:

Method #$2$:

Monday Tuesday Wednesday Thursday Friday Monday Tuesday Wednesday Thursday Friday Monday Tuesday Wednesday Thursday Friday Monday Tuesday Wednesday Thursday Friday

Period Demand

$1744292431194429455646110471014812849474$

$103301112841281613110414474159241612841710621814641974420672$

Using a weighted moving average of $0\mathrm{.}35[$last day$],0\mathrm{.}30[2$ days ago$]0\mathrm{.}15[3$ days ago$],0\mathrm{.}10[4$ days ago$],0\mathrm{.}10[5$ days ago$],$

Assume that the forecast for Monday of $4$ weeks ago was $570$ units. Using an Exponential Smoothing with $0\mathrm{.}25,$

$15$ days. In addition, what is the forecast for the Monday of this week?

calculate the daily forecasts for the last

calculate the daily forecasts for the last $15$

days. In addition, what is the forecast for the Monday of this week?

Calculate the Mean Squared Error for each of the above methods based on the daily forecasts

for the last $15$ days. Which method is more accurate? Why?