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Q1. Given the following data, compute the MAD for the forecast. Year Demand Forecast
2001
16
18
2002
20
19
2003
24
Q2. The following data summarizes the historical demand for a product:
Month
Actual Demand
March
April
25
May
40
June
35
July
30
August
45
If the forecasted demand for June, July and August is 32, 38 and 42, respectively, what is MAPD? Write your answer in decimal form and not in percentages. For example, 15% should be written as 0.15. Use three significant digits after the decimal.
Q3. The following data summarizes the historical demand for a product.
Use exponential smoothing with α = .2 and the smoothed forecast for July is 32. Determine the smoothed forecast for August.
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