In: Advanced Math
Consider monthly demand for the ABC Corporation as shown below. Forecast the monthly demand for Year 6 using the 3-period moving average and 4-period moving average. Evaluate the bias, TS, MAD, MAPE and MSE. Evaluate the quality of the forecast
Sales |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
JAN |
2000 |
3000 |
2000 |
5000 |
5000 |
FEB |
3000 |
4000 |
5000 |
4000 |
2000 |
MAR |
3000 |
3000 |
5000 |
4000 |
3000 |
APR |
3000 |
5000 |
3000 |
2000 |
2000 |
MAY |
4000 |
5000 |
4000 |
5000 |
7000 |
JUN |
6000 |
8000 |
6000 |
7000 |
6000 |
JUL |
7000 |
3000 |
7000 |
10000 |
8000 |
AUG |
6000 |
8000 |
10000 |
14000 |
10000 |
SEP |
10000 |
12000 |
15000 |
16000 |
20000 |
OCT |
12000 |
12000 |
15000 |
16000 |
20000 |
NOV |
14000 |
16000 |
18000 |
20000 |
22000 |
DEC |
8000 |
10000 |
8000 |
12000 |
8000 |
Total |
78000 |
89000 |
98000 |
115000 |
113000 |