Question: Use the following three methods to forecast the demand using the data given in the table. (a) moving average (m=2), (b) exponential smoothing ( =0.2,

 Use the following three methods to forecast the demand using the

Use the following three methods to forecast the demand using the data given in the table. (a) moving average (m=2), (b) exponential smoothing ( =0.2, initialized with F1=8 ) and (c) double exponential smoothing (=0.2,=0.2, initialized with F1= 8,T1=0) 1. Determine one-step-ahead forecast (e.g., forecast April demand with the data up to March) and two-step-ahead forecasts (e.g., forecast April demand with the data up to February) for months April - June with each method (a)-(c). 2. Calculate the mean absolute deviation (MAD), mean square deviation (MSD), mean absolute percentage error (MAPE) for the forecasting results. Compare the performance of three forecasting approaches with each standard

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