Solution-Forecast for december based on exponential

Forecast for december based on exponential smoothing

Reference no: EM131320080

Your company is seeking to forecast demand for the next month based on the information given in the following table:

Month	May	June	July	Aug	Oct	Sept	Oct	Nov	Dec
Demand	40	44	43	45	42	50	48	54

a. (6) Develop a forecast for December using a weighted moving average where w_t-1 = 0.6,

w_t-2 = 0.25, w_t-3 = 0.1, and w_t-4 = 0.05

b. (6) If the forecast in May was 42, develop a forecast for December based on exponential smoothing with α = 0.25.

c. (8) For the data set below, determine the bias, the mean squared error and the mean absolute deviation.

Forecast		83	85	80	81	84	86	88	90
Demand	80	85	78	82	86	88	92	94

Reference no: EM131320080

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Forecast for december based on exponential smoothing

Reference no: EM131320080

Reference no: EM131320080

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