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 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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