Sales for the last 12 months at a company are the following: Actual Sales ($ Month...
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Sales for the last 12 months at a company are the following: Actual Sales ($ Month M) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 20 24 27 31 37 7 55 62 4 35 32 29 238438433338 47 53 54 36 a. Calculate the forecast according to the Simpl Moving Average Method (3-Month SMA, 4-Month SMA) b. Calculate the forecast according to the 3-Month Weighted Moving Average Method (Weights are 0.50, 0.33, 0.17, from most recent month to least recent month, respectively (Weights are actually 3, 2.1) c. Calculate the forecast according to the Exponetial Smoothing Method (Alpha is 0.6) Assume that the forecast for Jan is 22. d. Calculate the MAD for each method e. Which forecasting method would you choose for your company? Sales for the last 12 months at a company are the following: Actual Sales ($ Month M) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 20 24 27 31 37 7 55 62 4 35 32 29 238438433338 47 53 54 36 a. Calculate the forecast according to the Simpl Moving Average Method (3-Month SMA, 4-Month SMA) b. Calculate the forecast according to the 3-Month Weighted Moving Average Method (Weights are 0.50, 0.33, 0.17, from most recent month to least recent month, respectively (Weights are actually 3, 2.1) c. Calculate the forecast according to the Exponetial Smoothing Method (Alpha is 0.6) Assume that the forecast for Jan is 22. d. Calculate the MAD for each method e. Which forecasting method would you choose for your company?
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Answer rating: 100% (QA)
SOLUTION To calculate the forecasts and MAD for each method lets start by organizing the given data Month Actual Sales Jan 20 Feb 24 Mar 27 Apr 31 May ... View the full answer
Related Book For
Complete Business Statistics
ISBN: 9780077239695
7th Edition
Authors: Amir Aczel, Jayavel Sounderpandian
Posted Date:
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