Using the following 8 weeks of demand data to determine the best forecasting method. Compare 3...

Using the following 8 weeks of demand data to determine the best forecasting method. Compare 3 period simple moving average, 3 period weighted moving average and exponential smoothing. Week Sales 1 133 2 137 3 145 4 146 5 150 6 124 7 135 8 130

a) What is the MAD using the 3 period simple moving average (SMA) method

b) What is the forecast for Week 9 using the 3 period simple moving average forecasting method?

c) What is the MSE using the 3 period weighted moving average (WMA) (weights of 0.40, 0.35, and 0.25) method

d)What is the forecast for Week 9 using the 3 period weighted moving average (weights of 0.40, 0.35, and 0.25) forecasting method?

e) What is the MAPE using the exponential smoothing (ES) method (using α = 0.21)? (Assume the forecast for the first week is 133)

f) What is the forecast for Week 9 using the exponential smoothing (using α = 0.21) forecasting method?(Assume the forecast for the first week is 133)

g) Which of these methods is the best forecasting method? Choose one error measurement for comparison. Explain using quantitative values.

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orchestra answered 1 year ago

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