Smith wonders if perhaps a weighted moving average or an exponential smoothing approach to forecasting might be better than having the vice president of marketing prepare the forecast. Smith wants to evaluate a two-period weighted moving average with weights of 0.7 and 0.3 for the most recent and next most recent periods. He also wants to evaluate the exponential smoothing with an = 0.3 and a starting forecast for period 6 of 168,000 units.

Calculate MAD for MWA and Exponential smoothing methods and MAPE for MWA and Exponential smoothing methods. (MAD,MAD,MAPE%,MAPE%). Show work.

VP/Marketing Forecast Year 1 2 3 4 5 6 7 8 9 10 Sales 170,300 168,250 165,700 169,000 168,000 167,300 175,250 172,500 156,700 176,300 170,000 170,000 180,000 180,000 160,000