Question: Please explain how to get the answers in red, especially part A. 6. We would like to evaluate the performance of Moving Average (3) and

Please explain how to get the answers in red, especially part A.
6. We would like to evaluate the performance of Moving Average (3) and Exponential Smoothing (alpha=0.6) for the following weekly demand data: Blank columns are provided for your convenience. a) Develop forecast for Week 9 using MA(3) 260 b) Develop forecast for Week 9 using Exponential Smoothing (alpha=.6) 228.074 c) Which forecasting method is better? Explain why. MAD for MA(3)=57.6 MAD for Exp. Sm. =52.7 Exponential Smoothing with alpha=.6 is better because of the smaller MAD
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
