The following table summarizes the demand of antifreeze bottles from a local che
ID: 3121452 • Letter: T
Question
The following table summarizes the demand of antifreeze bottles from a local chemist: a) Determine single-month-ahead forecasts making use of the method of exponential smoothing for months 1 through 8. Choose alpha = 0.2 and set the initial forecast as 10 bottles. Round all the forecasted values to nearest integers. b) Compute the tracking signal ratio for months 1 through 8. Choose beta = 0.1 and set the initial accumulated error (E_0) and initial accumulated absolute error (M_0) as 15.0 for both. c) Looking at the tracking signal ratios T_1, T_2, ... T_8 what can you say about the forecasts made in part-(a). Explain briefly.Explanation / Answer
ANSWER (a)
20
ANSWER (b)
21
Month Demand 1 10 2 11 3 12 4 14 5 15 6 17 7 18 820
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