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Using a weighted moving average with three periods, determine the demand for period 13. Use 3, 2, and 1 for the weights of the most recent, second most recent, and third most recent periods, respectively  b) Find the MAD, MSE and MAPE

Using a weighted moving average with three periods, determine the demand for period 13. Use 3, 2, and 1 for the weights of the most recent, second most recent, and third most recent periods, respectively  b) Find the MAD, MSE and MAPE

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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PLEASE ANSWER BOTH QUESTIONS without excel

 

 

a) Using a weighted moving average with three periods, determine the demand for period 13. Use 3, 2, and 1 for the weights of the most recent, second most recent, and third most recent periods, respectively 


b) Find the MAD, MSE and MAPE  

Data collected on the monthly demand for a certain product in thousands of dollars are shown in the following table. Month Demand 1 145.5 2 160 3 71 4 99 5 194.5 206 7 135.5 8 152.5 246 10 259 11 181.5 12 194
Transcribed Image Text:Data collected on the monthly demand for a certain product in thousands of dollars are shown in the following table. Month Demand 1 145.5 2 160 3 71 4 99 5 194.5 206 7 135.5 8 152.5 246 10 259 11 181.5 12 194
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