Question: need help solving problem woth excel formulas and format 10 Franklin Tooling, Inc., manufactures specialty tooling for firms in the paper-making industry. All of their
need help solving problem woth excel formulas and format
10 Franklin Tooling, Inc., manufactures specialty tooling for firms in the paper-making industry. All of their products are engineer-to-order and so the company never 14 knows exactly what components to purchase for a tool until a customer places an order However, the company believes that weekly demand for a few components 16 is fairly stable Component 135 AG is one such item. The last 26 weeks of historical use of component 135 AG is recorded below 10 Week 23 39 36 44 Demand 142 141 148 131 146 133 154 141 2 3 4 5 6 7 8 9 10 11 12 13 43 52 51 62 62 Week 14 15 16 17 15 19 20 21 22 23 24 25 26 Demand 136 137 129 126 132 123 125 120 111 115 110 126 124 139 147 130 129 123 UN OM Explorer's Time Series Forecastino Solver to evaluate the following forecasting methods Starterror measurement in the fifth wook so all methods are lings for initial forecasts Naive (1 Period Moving Average), The CFE (or mean bias) is 1 (Enter your response rounded to two decimal places) The MAD is 1 (Enter your response rounded to two decimal places.) The MAPE is %. (Enter your response rounded to two decimal places.) (11) 3-Period Moving Average The CFE is (Enter your response donded to two decimal places) The MAD IS (Enter your response rounded to two decimal places) The MAPE is % (Enter your response rounded to two decimal places) (iii) Exponential smoothing, with a 0.23 The CFE is (Enter your response rounded to two decimal places) The MAD is (Enter your response rounded to two decimal places) The MAPE is 11 % (Enter your response rounded to two decimal places.) (iv) Trend projection with Regression The CFE is (Enter your response rounded to two decimal places) The MAD is (Enter your response rounded to two decimal places) The MAPE Is 1% (Enter your response rounded to two decimal places) (v) Which forecasting method should management use? #CFE is the performance criterion chosen by the administration, it should choose method I MAD is the performance criterion chosen by the administration, it should choose V method I MAPE is the performance criterion chosen by the administration, it should choose y method


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