Question: Your manager is trying to determine what forecasting method to use. Based upon the following historical data, caiculate the following forecast and specify what procedure




Your manager is trying to determine what forecasting method to use. Based upon the following historical data, caiculate the following forecast and specify what procedure you would utilize. a. Calculate the simple three-month moving average forecast for periods 4-12. (Round your answers to 3 decimal places.) b. Calculate the weighted three-month moving average for periods 412 using weights of 0.30 (for the period t1 ): 0.50 (for the period t2 ). and 0.20 (for the period t3 ). (Do not round intermediate calculations. Round your onswers to 1 decimal ploce.) c. Calculate the single exponentlal smoothing forecast for periods 212 using an initial forecast (F of 62 and an of 0.40 . (Do nor round intermediote colculations. Round your answers to 3 decimal ploces.) d. Calculate the exponential smoothing with trend component forecast for periods 212 using an initial trend forecast ( T D of 1.60 , an initial exponentlal smoothing forecast (F. of 59 , an of 0.40 , and a of 0,30 . (Do not round intermediote colculations. Round your answers to 3 decimal ploces.) e-1. Calculate the mean absolute deviation (MAD) for the forecasts made by each techique in periods 4-12. (Do not round intermediote colculations. Round your answers to 3 decimal ploces.) e-2. Which forecasting method is best? Single exponential smoothing forecast Exponential smoothing with trend forecast Three-month moving average Three-month weighted moving average
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