Calculate the bias and mean absolute deviation

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Reference no: EM13108334

Given the series of demand data below
Period : 1 2 3 4 5 6 7 8 9 10
Demand: 43 31 52 44 23 48 40 39 30 40
A. Calculate the forecasts for periods 7 through 11 using moving average models with n = 2, n = 4, and n = 6
Week n=2 n=4 n=6
7
8
8
10
11
B. Calculate the bias and MAD for each set of forecasts
Moving Average Forecast
n=2 n=4 n=6
Bias:
MAD:
C. If last period's forecast was 25 and the demand was 32.

What was the forecast error?
What would be the forecast for the next period using an exponential smoothing model with alpha = .2?

Reference no: EM13108334

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