Question

In-Class Assignments On FORECASTING Problem 1: Use the sales data below to answer the following questions: Table 1 Time-series data Year Sales 1 $439 2 440 3 455 4 457 5 481 6 492 7 505 a) Assuming $alpha = 0.25$, and $F_1 = 420$, calculate the forecast using exponential smoothing model. b) Calculate the mean squared error (MSE) for the forecasting model in (a). c) Forecast the demand using weighted moving average method with weights of 0.7 and 0.3. d) Calculate MAD for the forecasting model in (c).

          In-Class Assignments
On
FORECASTING
Problem 1: Use the sales data below to answer the following questions:
Table 1
Time-series data
Year
Sales
1
$439
2
440
3
455
4
457
5
481
6
492
7
505
a) Assuming $alpha = 0.25$, and $F_1 = 420$, calculate the forecast using exponential
smoothing model.
b) Calculate the mean squared error (MSE) for the forecasting model in (a).
c) Forecast the demand using weighted moving average method with weights of 0.7
and 0.3.
d) Calculate MAD for the forecasting model in (c).

In-Class Assignments
On
FORECASTING
Problem 1: Use the sales data below to answer the following questions:
Table 1
Time-series data
Year
Sales
1
439
2
440
3
455
4
457
5
481
6
492
7
505
a) Assumingalpha = 0.25, andF1 = 420, calculate the forecast using exponential
smoothing model.
b) Calculate the mean squared error (MSE) for the forecasting model in (a).
c) Forecast the demand using weighted moving average method with weights of 0.7
and 0.3.
d) Calculate MAD for the forecasting model in (c).

Added by Anna R.

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