Question: Your manager is trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecast and specify what procedure
Your manager is trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecast and specify what procedure you would utilize. Month Actual Demand: a Calculate the simple threemonth moving average forecast for periods to b Calculate the weighted threemonth moving average using weights of and for periods to c Calculate the single exponential smoothing forecast for periods to using an initial forecast FI of and an a of d Calculate the exponential smoothing with trend component forecast for periods to using an initial trend forecast T of an initial exponential smoothing forecast F of an a of and a of e Calculate the mean absolute deviation MAD for the forecasts made by each technique in periods to Which forecasting method do you prefer?
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