(b) Demand history of five different products of a company is shown below.Products201220132014201520162017201820192020A37404145492634302623332832C58553238455662707786958388819285i. Name the methods that is suitable to forecast the demand of the above five products?ii. Forecast demand of the product B or D with error for the year 2021. If you need a value of a thenconsider it 0.7.

This question is related to the topic of forecasting approach, this topic falls under the operations…

Answered: (b) Demand history of five different…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average forecasting methods to see which one was better over this period. Month Actual Demand Jan 120 Feb 140 March 160 April 180 May 170 June 190 July 150 August 160 September 170 a. Forecast April through September using a three-month moving average and calculate MAD for the forecasts. b. Forecast May through September using a four-month moving average and calculate MAD for the forecasts.
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The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 7 9 6 10 12 7 12 12 9 9 8 Part 2 Using exponential smoothing with α = 0.30 and a forecast for year 1 of 6.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). Part 3 Provide the forecast from periods 2 through 12 using the naive approach (enter your responses as whole numbers).
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Let's say you are playing the stock market and below period 2020 data was provided. For "stock A" you use a 2 month moving average. For "stock B" you use exponential smoothing with (a = 0.3). What is the Forecast in Stock B for January 2021? Stock A Stock B ... Jan 0.11 Jan 14 Feb 0.20 Feb 11 Mar 0.03 Mar Apr May 1.20 Apr May 6. 0.50 9 Jun 0.03 Jun 12 Jul 0.10 Jul 16 Aug 0.11 Aug Sep 14 Sep 0.56 8 Oct 0.78 Oct Nov 0.44 Nov 4 Dec 0.10 Dec
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