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For a product the demand data has been shown in the table below for the year. Compare the forecasts using a forecasting method with a period of 5 months and an Exponential smoothing Method with an α of 1/3. For Exponential Smoothing use the midpoint of first 5 month range of the average as the initial Forecast. (Updated Hint: the Exponential Smoothing Forecast therefore in March 2013 for April 2013 will be 4951)

Month Demand

jan 4576

Feb 5568

Mar 3240

Apr 5978

May 5395

Jun 4644

Jul 5880

Aug 6096

Sep 5967

Oct 5828

Nov 5808

Dec 6076

From June to December which method of forecasting outperform the others?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91418503

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