Question 1 Historical demand for a product is as follows: • June (150) • July (165) • August (175) • September (140) • October (155) • November (155) Calculate a weighted moving average forecast for December using weights of 0.4, 0.3 and 0.3. Using single exponential forecast with alpha ＝ 0.3 and a starting forecast for June of 155, calculate the forecast for the other 5 months and also calculate the mean absolute deviation (MAD) for the forecasts. What effect does changing the alpha to 0.4 have on the forecasts and the MAD? Explain the differences. Be sure to demonstrate your work and provide a brief interpretation. Question 2 What are the advantages and disadvantages of using the weighted moving average and the exponential smoothing methods of forecasting? Which industries or products would use these methods of forecasting? Explain why Be sure to read over your assignment before submitting it to your Instructor to make sure the spelling and grammar for your assignment are correct, and the language, citing and referencing you use when providing your opinion are appropriate for academic writing. Question 3 Post a brief reflection regarding how measuring the accuracy of forecasts using mean absolute deviation (MAD) helps to improve forecasting.
The post Calculate a weighted moving average forecast & Using single exponential forecast with alpha ＝ 0.3 & MAD
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