Updated $4/18/20248$:$18$ PM

Final Project $-$ Case Questions

Using the Product Forecasting Information that has been provided from FY$2017$ through FY$2020($four years$),$ calculate the measures of forecast accuracy $($MFE$,$ MAD, and MAPE$)$ for the Weighted Moving Average $($MA$)$ and the Exponential Smoothing $($EXP$)$ approaches to forecasting.

a$)$ What are the values of MFE, MAD, and MAPE for each of these two approaches to forecasting $($MA and EXP$)?$ Which of the approaches is more accurate?

b$)$ Do these forecasts seem adequate for the purposes of decision making? Why or why not?

Note: Unlike your homework$/$exams where we utilized multiple months, this is just for the four years $($treat them like months$).$

Develop forecasts for FY$2021$ using the two forecasting methods currently employed by Throx $($Moving Average and Exponential Smoothing$).$

a$)$ What are the forecast values that you calculated for each? Please be sure to show work.

b$)$ Based on your assessments of forecast accuracy from Q$1,$ which of the forecasts would be more appropriate to support decisions you may need to make?

c$)$ Are there other considerations that you would recommend to Throx.