A company has recorded the following data for one of its, Ask an Expert

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A Company has recorded the following data for one of its new products over a six-month period. (The company assumes no trend or seasonal effects)

Month Demand (in units of product)

January 100

February 105

March 85

April 120

May 135

June 110

1) What would the June forecast have been if made at the end of May, using exponential smoothing with α = .2 and a forecast for January of 95 units?

2) What would the June forecast have been if made at the end of May, using a three-month moving average?

3) What would be the mean absolute deviation (MAD) of the forecast errors for April, May, and June, given the forecasts for these three months were 110, 130, and 125 units, respectively?

4) What would the July forecast have been if made at the end of June, using exponential smoothing with α =.3 and a forecast for June of 125 units?

5) What would the July forecast have been if made at the end of June, using five-month moving average? What would the August Forecast be using five-month moving average?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92516314

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