The following table contains the demand from the last 5, Ask an Expert

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The following table contains the demand from the last 5 months.

Month Actual Demand

1 31

2 34

3 33

4 35

5 37

a. Calculate the single exponential smoothing forecast for these data using an α of 0.30 and an initial forecast (F1) of 31. Report the forecast for Month 6 in AnswerSheet.

b. Calculate the exponential smoothing with trend forecast for these data using an α of 0.30, a β of 0.30, an initial trend forecast (T1) of 1, and an initial exponentially smoothed forecast (F1) of 30. Report the forecast including trend for Month 6 in AnswerSheet.

c. Calculate the mean absolute deviation (MAD) for each forecast. Which forecasting method performs better in this problem (pick from the list)?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93093324

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