Question: Please help me solve part C and D 3. Here are the actual tabulated demands for an item for a nine-month period (January through September).

Please help me solve part C and D Please help me solve part C and D 3. Here are the
3. 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 Month Actual January 110 June 180 February 130 July 140 March 150 August 150 April 170 September 130 May 160 a) Forecast April through September using a three-month moving average b) Use a simple exponential smoothing with an alpha of 0.6 to estimate demands for May through September. (assume the forecasted demand for April was 150) c) Calculate MAD, MSE, and MAPE for (a) and (b) d) Base on your answers in c), which do you think is a better forecasting method

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

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...

Q:

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...

Q:

Problem 3-17 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...

Q:

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...

Q:

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...

Q:

Problem 3-17 (Algo) 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...

Q:

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...

Q:

c-2. Use MAD to decide which method produced the better forecast over the six-month period. multiple choice Exponential smoothing. Three-month moving average. Here are the actual tabulated demands...

Q:

3 . 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...

Q:

Please show all your work for maximum credits. 1 . Historic demand for a product is Month Demand January 1 2 February 1 1 March 1 5 April 1 2 May 1 6 June 1 5 a ) Using a weighted 3 - month moving...

Q:

A loan of $3,000 was made for 210 days. If ordinary interest is $218.75, find the rate.

Q:

1. Based on the Alabama Secretary of States website, what are the steps in incorporating a business in Alabama?

Q:

3. In this exercise, you complete the Cranston Berries application from Exercise 3 in both Lesson A and Lesson B. Open the VB2015\Chap02\Cranston Solution\Cranston Solution (Cranston Solution.sln)...

Q:

Case Greenbuilders Pte Lid ("GPL") is a local construction company which specialises in providing bespoke Design and Build construction services for private residential homes that are designed to be...