The past demands at a medical clink follow: The clinics administration is considering the following forecasting methods.

The past demands at a medical clink follow:

The clinic’s administration is considering the following forecasting methods. Use OM Explorer or POM for Windows to evaluate each one. Start error measurement in the fourth week, so all methods are evaluated over the same periods.
(I) Naive (1-Period Moving Average)
(II) 3-Period Weighted Moving Average, using weights of 0.70, 0.20, and 0.10, with more recent data given more weight
(Ill) Exponential smoothing, with a 0.10
(IV) ‘Wend-adjusted exponential smoothing, with a — 0.10 and p — 0.10. Use 400 for the initial average and an Initial trend of 0.
a. If CFE (or mean bias) is the performance criterion chosen by the administration, which forecasting method should it choose?
b. If MAD is the performance criterion chosen by the administration, which forecasting method should it choose?
c. If MSE is the performance criterion chosen by the administration, which forecasting method should it choose?
d. If MAPE is the performance criterion chosen by the administration, which forecasting method should itchoose?

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