ABC Company is creating the production plan for the coming month. The company has collected the...

ABC Company is creating the production plan for the coming month. The company has collected the following data on the average marketing demand during the past 25 months. Month Demand 1 60 2 65 3 67 4 58 5 59 6 56 7 65 8 65 9 69 10 65 11 70 12 71 13 64 14 75 15 70 16 72 17 65 18 77 19 62 20 59 21 78 22 58 23 60 24 68 25 59 Using a three-month moving average, forecast demand for month 26. Using a three-month weighted average with the most recent month weighted 0.61, the next most recent month weighted 0.29, and the third month weighted 0.1, forecast the demand for month 26. Compute an exponentially smoothed forecasting using α = 0.39 and forecast the demand 26. Compare the forecast in (a), (b), and (c) using MAD. Indicate the most accurate forecasting method. Compute the tracking signal for the most accurate method (based on MAD value), and construct a control chart. Comment on the forecasting result.

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keosha answered 1 year ago

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