Reference no: EM132783709
Please provide a Microsoft Excel attachment as needed and an explanation and solution to the following a questions. Thank you so much!
Harlem Industries has a simple forecasting model: Take the actual demand for the same month and divide that by the number of fractional weeks in that month last year and divide that by number of factional weeks in that month. This gives the weekly demand for that month.
This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown below along with the actual demand that occurred:
Forecast Actual Forecast Actual
Week Demand Demand Week Demand Demand
1 140 137 5 140 180
2 140 133 6 150 170
3 140 150 7 150 185
4 140 160 8 150 205
a. Compute the MAD of forecast errors.
b. Using the RSFE, compute the tracking signal
c. Based on your answers to parts (a) and (b), comment on Harlen's method of forecasting.
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