Determine the one-step-ahead forecasts for the demand

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Reference no: EM131878100

Observations of the demand for certain part stocked at a parts supply depot during the calendar year 1999 were.

Month	Demand	Month	Demand
Jan	95	July	220
Feb	65	Aug	300
Mar	140	Sept	230
Apr	200	Oct	285
May	165	Nov	195
June	285	Dec	320

1. Determine the one-step-ahead forecasts for the demand for January 2000 using 3-, 6-, and 12 -month moving averages.

2. Using a five-month moving average, determine the one-step-ahead forecasts for July through February 2000.

3. Using a five-month moving average, determine the two-step-ahead forecasts for July through February 2000.

4. Compute the MAD for the forecasts obtained in (b) and (c). Which method gave better results? Based on forecasting theory, which method should have given better results?

Reference no: EM131878100

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