Given the following data, use exponential smoothing with a = 0.3
and ? =.5 to develop...
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Advance Math
Given the following data, use exponential smoothing with a = 0.3and ? =.5 to develop a demand forecasts for period7. Assume that the forecast for week 1= 19. Use the MeanAbsolute Percent Error to determine which forecasts are moreaccurate.
Period
1
2
3
4
5
6
Demand
17
19
15
19
13
18
Answer & Explanation
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3.6 Ratings (393 Votes)
Given data may be tabulated as PERIODACTUAL DEMAND AtFORECAST DEMAND Ft11719 given2193154195136187Now since we have been given with Therefore we have According to exponential smoothening method the formula
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