Question: please show work or formulas used, thank you! M Problem 5 - Use the data below to calculate two Exponetial Smoothed Forecasts. The first should
please show work or formulas used, thank you!
M Problem 5 - Use the data below to calculate two Exponetial Smoothed Forecasts. The first should use an alpha of 33 and the second should use an alpha of 67. For both forecasts round your forecasts to the nearest whole number. Based on the MAD what is the expected error for these two forecasting techniques? Based on your findings do you think the forecast technique should be more responsive or stable. Briefly, explain your choice. For both forecasts use January's actual demand as the forecast for the 1st period, as shown in the tutorial Actual Month Demand January 1620 February 1500 March 1000 April 950 May 750 June 720 July 650 August 680 + September 750 October 800 November 1150 December 1480 January 1750 February 1620 March 1200 April 900 May 820 June 750 July 630 August 700 September 770 October 850 November 1090 December 1400
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