Using simple exponential smoothing and the following time series data, respond to each of the items. (Note

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Using simple exponential smoothing and the following time series data, respond to each of the items. (Note the data are the same as exercise 5.)

Period Demand Period Demand 104 150 2 132 7 101 3 143 8 126 4 137 116 146 10 115 1,

a. G raph the time series data. What do you observe?

b. Compute all possible forecasts using a smoothing coefficient (α) of 0.3.

c. Compute the MAD.

d. What is the forecast demand for period 11?

e. What is the error associated with period 11’s forecast?

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Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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