The following data represent the demand for antifreeze in thousands of gallons for an 8-week period during the Fall 2017 in the New York metropolitan area. Week Demand ...
The following data represent the demand for antifreeze in thousands of gallons for an 8-week period during the Fall 2017 in the New York metropolitan area.
Week Demand
1 10
2 15
3 17
4 12
5 15
6 18
7 20
8 25
a) Calculate a 3-week moving average for the demand data. What will be the forecast for Week 9?
b) Calculate an exponential smoothed average for the demand data using a= 0.30 and seed S0= 10. What will be the
forecast for Week 9?
c) Calculate the Mean Absolute Deviation (Mean Absolute Error) for each for each of the forecasts developed in Parts a and b. Based on this information, which is the superior forecast for antifreeze?
Homework Answers
Exponential smoothing method is a good method of forecast
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The following data represent the demand for antifreeze in thousands of gallons for an 8-week period during the Fall 2017 in the New York metropolitan area. Week Demand ...
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