Question: Problem 1: Forecasting An electrical contractors records during the last five weeks indicate the number of job requests: Week 1 2 3 4 5 Requests

Problem 1: Forecasting

An electrical contractors records during the last five weeks indicate the number of job requests:

Week 1 2 3 4 5

Requests 20 22 18 21 22

(1) Forecast requests for week 4 and 5 using MA3 (3-week moving average)

(2) Forecast requests for week 4 and 5 using exponential smoothing with alpha=0.3; use 22 for week 3 forecast

(3) Based on your forecasts above, calculate MAD for both MA3 and exponential smoothing, and determine which method provides better forecast?

A. MA3 B. exponential smoothing

(4) What is your forecast for week 6 with the better forecast method you identified above?

A. 20.33 B. 21.20 C. 20.86 D. 22.12

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