Suppose the weekly demand for a call centre is shown in the table below. Apply the moving average and exponential smoothing methods to forecast the demand for Week 17. Assume the following: Simple moving average method: two-week moving average Single exponential smoothing method: assume the 1st week forecast is 333 and α=0.65. Include the MSE, MAD and MAPE in your calculations. Based on your results, recommend which method should be used and give reasons to support your recommendation. Week Demand (Number of calls) 1 300 2 360 3 410 4 289 5 279 6 302 7 376 8 329 9 248 10 322 11 503 12 511 13 399 14 402 15 380 16 469
Suppose the weekly demand for a call centre is shown in the table below. Apply the moving average and exponential smoothing methods to forecast the demand for Week 17. Assume the following: Simple moving average method: two-week moving average Single exponential smoothing method: assume the 1st week forecast is 333 and α=0.65. Include the MSE, MAD and MAPE in your calculations. Based on your results, recommend which method should be used and give reasons to support your recommendation. Week Demand (Number of calls) 1 300 2 360 3 410 4 289 5 279 6 302 7 376 8 329 9 248 10 322 11 503 12 511 13 399 14 402 15 380 16 469
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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Suppose the weekly demand for a call centre is shown in the table below. Apply the moving average and exponential smoothing methods to
Assume the following:
Simple moving average method: two-week moving average
Single exponential smoothing method: assume the 1st week forecast is 333 and α=0.65.
Include the MSE, MAD and MAPE in your calculations. Based on your results, recommend which method should be used and give reasons to support your recommendation.
| Week | Demand (Number of calls) |
| 1 | 300 |
| 2 | 360 |
| 3 | 410 |
| 4 | 289 |
| 5 | 279 |
| 6 | 302 |
| 7 | 376 |
| 8 | 329 |
| 9 | 248 |
| 10 | 322 |
| 11 | 503 |
| 12 | 511 |
| 13 | 399 |
| 14 | 402 |
| 15 | 380 |
| 16 | 469 |
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