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Q3 The following table contains the sale of water pumps for the last 10 months in a retail outlet. Week No. Actual Demand Week No. Actual Demand 1 31 36 34 7 38 33 8 40 4 35 9 40 37 10 41 i) Forecast for 11th week using exponential smoothing method for these data using a (alpha) of 0.3, and an initial forecast of 32. ii) Use 3 weeks moving average to forecast 11th month. iii) Identify the best method using Mean Absolute Deviation (MAD). iv) Justify your decision. 2.

Q3 The following table contains the sale of water pumps for the last 10 months in a retail outlet. Week No. Actual Demand Week No. Actual Demand 1 31 36 34 7 38 33 8 40 4 35 9 40 37 10 41 i) Forecast for 11th week using exponential smoothing method for these data using a (alpha) of 0.3, and an initial forecast of 32. ii) Use 3 weeks moving average to forecast 11th month. iii) Identify the best method using Mean Absolute Deviation (MAD). iv) Justify your decision. 2.

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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Q3 The following table contains the sale of water pumps for the last 10 months in a retail outlet. Week No. Actual Demand Week No. Actual Demand 1 31 36 34 7 38 33 8 40 4 35 9 40 37 10 41 i) Forecast for 11th week using exponential smoothing method for these data using a (alpha) of 0.3, and an initial forecast of 32. ii) Use 3 weeks moving average to forecast 11th month. iii) Identify the best method using Mean Absolute Deviation (MAD). iv) Justify your decision. 2.
Transcribed Image Text:Q3 The following table contains the sale of water pumps for the last 10 months in a retail outlet. Week No. Actual Demand Week No. Actual Demand 1 31 36 34 7 38 33 8 40 4 35 9 40 37 10 41 i) Forecast for 11th week using exponential smoothing method for these data using a (alpha) of 0.3, and an initial forecast of 32. ii) Use 3 weeks moving average to forecast 11th month. iii) Identify the best method using Mean Absolute Deviation (MAD). iv) Justify your decision. 2.
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