A chain of grocery stores had the given weekly demand (cases) for a specific brand of laundry soap: Dem = Demand
Q1. Make three and four period moving average forecasts and find out MSA for each. Which gives better forecast? What would be the prediction for week 11?
Q2. Build an exponential smoothing forecast with smoothing constants α =0.1 and 0.3. What would be the prediction for week 11?
Q3. find out the tracking signal for each of the forecasts in part (1) and (2). Is there any evidence of the bias?
Q4. Might a different model give better outcomes?