PLEASE SOLVE THE QUESTION BELOW - BOTH PART A & PART B \"Using the data in Table
ID: 3041694 • Letter: P
Question
PLEASE SOLVE THE QUESTION BELOW - BOTH PART A & PART B
"Using the data in Table 7.12,
a. Compute an exponentially smoothed forecast with alpha=0.60 through May and create a forecast for the next month June.
b. Compare the forecasts you have computed by using an exponential smoothing model from problems 11 and 12.Which forecasting model does a better job? "
Table 7.12
MONTH DEMAND
January 160
February 268
March 170
May 180
11. A claims form processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 39 million, while the forecast was 37 million A smoothing constant of 0.3 is used. What is the forecast for July? Daily high temperatures in degrees Fahrenheit in the city of Lubbock for the last week have been as follows: 93, 94, 93, 95, 96, 88, 90. Using Excel's Data Analysis add-in, a. Forecast the high temperature today, using a 3-day moving average. b. Forecast the high temperature today, using a 2-day moving average. c. Calculate the mean absolute deviation (MAD) based on a 2-day and a 3-day moving average.Compare the two MAD results. Which forecasting method provides a lower MAD?Explanation / Answer
1)
Accuracy Measures
MAPE 1.99265
MAD 1.80000
MSD 5.93333
2)
Accuracy Measures
MAPE 2.04903
MAD 1.85000
MSD 7.33750
3) MAD for a 2 day is = 1.85
MAD for a 3 days is =1.80
Compaire for 2day and 3day .MAD 3day is lower .
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