What are the forecasted demands

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Reference no: EM133276722

Question - Demand (Yt) for milk (in gallons) at a local grocery store is as follows during the past 8 months.

Week	Demand (Yt)
1	200
2	210
3	190
4	185
5	198
6	205
7	195
8	207

1. What are the forecasted demands (Ft) using the 3 MA (3-period moving average) method and the exponential smoothing method (use α =0.2)? Please show all the relevant calculations.

2. Calculate the MAE, MSE & MAPE values for the 3 MA (3-period moving average) method and the exponential smoothing method ( use α =0.2). Please show all the relevant calculations. Which method do you recommend for future demand predictions based on the MAPE criterion and why?

Reference no: EM133276722

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