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Question 2

4 points

FC.61 Intermount 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:

Month	Square Feet Sold	Forecast
Jan	9,540	10,244
Feb	11,921
Mar	12,179
Apr	9,911
May	10,946
Jun	11,286
Jul	11,743
Aug	12,129
Sep	10,899
Oct	9,782

Suppose at the start of this year, before Intermount had any data on actual sales, they forecasted that January sales would be 10,244 square feet. Assuming they used an alpha value of 0.6 and that actual January sales materialized as shown in the table above (9,540 square feet), what would have been their forecast for the month of February? (Display your answer to two decimal places.) 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.)

What is the MAD for this forecast (based on 10 months of forecasts--January through October)? (Display your answer to two decimal places.)

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.) %