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April 23, 2024

Homework 5 Consider the following demand by Month:

Consider the following demand by Month:

Month

Demand

1

1800

2

2200

3

1950

4

2150

5

2000

6

1900

7

2300

Use the simple Moving average approach to forecast the demand for Period 8. Use a window size of 3. Show your work.
Use the exponential approach to forecast the demand for Period 8. Use and Alpha of .3. Show your work.
Determine which forecasting approach is the most accurate using the
1. Mean Absolute Deviation approach
2. Mean Square Error
3. Mean Absolute Percent Error approach.

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