Question: Using the ice cream sales data given below, forecast demand using moving average with n = 1, 4, and 8 and the exponential smoothing model
Using the ice cream sales data given below, forecast demand using moving average with n = 1, 4, and 8 and the exponential smoothing model with alpha = 0.1, 0.5, and 0.9 and using 122.3 for the beginning forecast on the first day. Day Demand Day Demand M 122.3 M 161.7 T 147.2 T 186.7 W 175.1 W 192.7 Th 147.8 Th 232.0 F 188.1 F 282.1 S 198.1 S 360.0 Su 178.7 Su 272.1 M 150.2 M 209.1 T 135.4 T 147.5 W 148.6 W 184.1 Th 153.7 Th 224.3 F 217.5 F 280.4 S 195.0 S 338.7 Su 215.0 Su 307.8 M 167.1 T 170.1 W 153.0 Th 186.3 F 228.3 S 241.0 Su 256.9 a. Beginning with the errors calculated in period 9 (the second Tuesday in the list), calculate MFE and MAD for moving average forecast model. (Round your intermediate calculations and final answers to 1 decimal place.) b. Beginning with the errors calculated in period 9 (the second Tuesday in the list), calculate MFE and MAD for exponential smoothing forecast model. (Round your intermediate calculations and final answers to 1 decimal place.) c. Which one moving average model and which one exponential smoothing model performed best concerning MAD? (You may select more than one answer. Click the box with a check mark for the correct answer and click to empty the box for the wrong answer.) check all that apply Simple moving average with n = 1 Simple moving average with n = 4 Simple moving average with n = 8 Exponential smoothing model with alpha = 0.5 Exponential smoothing model with alpha = 0.1 Exponential smoothing model with alpha = 0.9
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