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Month Demand Forecast Error Abs Error alpha 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Bias (mean error) MAD Problem 6: Maverick Jeans' demand manager decided to evaluate exponential smoothing. To maintain com- parability, she used the data from problem 6, copied below. Month 1 2 Demand 20 18 3 4 S 21 25 24 6 7 8 9 10 27 22 30 23 20 11 29 22 12 Develop forecasts for months 5-12. Calculate the Bias and MAD. Use a starting forecast of 20 for month 4 and an alpha value of 0.2. (Note: Adjust all cell values to two decimal points.)

Month Demand Forecast Error Abs Error alpha 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Bias (mean error) MAD Problem 6: Maverick Jeans' demand manager decided to evaluate exponential smoothing. To maintain com- parability, she used the data from problem 6, copied below. Month 1 2 Demand 20 18 3 4 S 21 25 24 6 7 8 9 10 27 22 30 23 20 11 29 22 12 Develop forecasts for months 5-12. Calculate the Bias and MAD. Use a starting forecast of 20 for month 4 and an alpha value of 0.2. (Note: Adjust all cell values to two decimal points.)

Practical Management Science
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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Month Demand Forecast Error Abs Error alpha 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Bias MAD (mean error) Problem 6: Maverick Jeans' demand manager decided to evaluate exponential smoothing. To maintain com- parability, she used the data from problem 6, copied below. 1 Month 2 3 Demand 20 18 21 25 4 5 24 6 7 8 9 10 11 12 27 22 30 23 20 29 22 Develop forecasts for months 5-12. Calculate the Bias and MAD. Use a starting forecast of 20 for month 4 and an alpha value of 0.2. (Note: Adjust all cell values to two decimal points.)
Transcribed Image Text:Month Demand Forecast Error Abs Error alpha 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Bias MAD (mean error) Problem 6: Maverick Jeans' demand manager decided to evaluate exponential smoothing. To maintain com- parability, she used the data from problem 6, copied below. 1 Month 2 3 Demand 20 18 21 25 4 5 24 6 7 8 9 10 11 12 27 22 30 23 20 29 22 Develop forecasts for months 5-12. Calculate the Bias and MAD. Use a starting forecast of 20 for month 4 and an alpha value of 0.2. (Note: Adjust all cell values to two decimal points.)
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