Question: Simple Forecasting Techniques Here is data for the past three months Month 1 Month 2 Month 3 13 14 15 Fill in the forecasts for
| Simple Forecasting Techniques | ||||||||
| Here is data for the past three months | ||||||||
| Month 1 | Month 2 | Month 3 | ||||||
| 13 | 14 | 15 | ||||||
| Fill in the forecasts for Month 4 using the following forecasting techniques | ||||||||
| 1 MA | 15 | |||||||
| 2MA | 14.5 | |||||||
| 3Ma | 14 | |||||||
| Forecasting Metrics | ||||||||
| It is important to evaluate how well the forecasting methods are predicting future demands | ||||||||
| Evaluating forecasting accuracy metrics allows you to select the forecasting technique that | ||||||||
| best fits the demand patterns | ||||||||
| Month 1 | Month 2 | Month 3 | ||||||
| Forecast | 13 | 14 | 15 | |||||
| Actual | 12 | 12 | 13 | |||||
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
