Question 1: The SCO3001 Company is considering different tools to forecast the demand of its textbooks. Based on the following data for weekly sales to answer the questions. 1 35 2 47 4 39 a. Forecast the demand for Weeks 6 and 7 using a 3-week simple moving average (SMA) method. b. Forecast the demand for Weeks 6 and 7 using a 4-week weighted moving average (WMA) method with w₁ = 0.5, W₂ = 0.3,W3 = 0.15,W4 = 0.05. c. Forecast the demand for Week 3 using exponential smoothing with Ao = 33, compare the results from a = 0.1 and a = 0.2, respectively. Next, evaluate which a value gives a more accurate demand forecast for the first three weeks if we measure forecast error by (i) CFE (ii) Week Demand 3 46 5 26 regular MAD the smoothed MAD (with MAD。 = 1) 6 33
Question 1: The SCO3001 Company is considering different tools to forecast the demand of its textbooks. Based on the following data for weekly sales to answer the questions. 1 35 2 47 4 39 a. Forecast the demand for Weeks 6 and 7 using a 3-week simple moving average (SMA) method. b. Forecast the demand for Weeks 6 and 7 using a 4-week weighted moving average (WMA) method with w₁ = 0.5, W₂ = 0.3,W3 = 0.15,W4 = 0.05. c. Forecast the demand for Week 3 using exponential smoothing with Ao = 33, compare the results from a = 0.1 and a = 0.2, respectively. Next, evaluate which a value gives a more accurate demand forecast for the first three weeks if we measure forecast error by (i) CFE (ii) Week Demand 3 46 5 26 regular MAD the smoothed MAD (with MAD。 = 1) 6 33
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 42P: The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars)...
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