Forecast for period 24 using the following three methods: Exponential smoothing with alpha = 0.25; Moving average with n= 5; and Linear trend Using MAPE, what is the best forecast method in Part a?
Forecast for period 24 using the following three methods: Exponential smoothing with alpha = 0.25; Moving average with n= 5; and Linear trend Using MAPE, what is the best forecast method in Part a?
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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Question
Case Study 1: The AusCandy Demand
The following table shows the historical demand data for product A in AusCandy Co. Answer the following questions.
|
Period |
Actual demand |
Period |
Actual demand |
|
1 |
25 |
13 |
24 |
|
2 |
21 |
14 |
26 |
|
3 |
11 |
15 |
38 |
|
4 |
12 |
16 |
30 |
|
5 |
14 |
17 |
23 |
|
6 |
18 |
18 |
40 |
|
7 |
32 |
19 |
41 |
|
8 |
23 |
20 |
32 |
|
9 |
25 |
21 |
44 |
|
10 |
20 |
22 |
41 |
|
11 |
26 |
23 |
28 |
|
12 |
29 |
|
|
Forecast for period 24 using the following three methods: Exponential smoothing with alpha = 0.25; Moving average with n= 5; and Linear trend- Using MAPE, what is the best forecast method in Part a?
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