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Question: Use the first-order exponential smoothing model with ? = 0.2 to forecast for these data...

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General Management

Question: Use the first-order exponential smoothing model with? = 0.2 to forecast for these data and for thefirst six months of the third year. Compute MSD/E,MAD, MAPE, and Bias.

Month

(t)

Demand

A(t)

1148
2125
378
453
525
629
79
868
984
10110
11147
12120
13147
14109
1596
1670
1742
1836
1934
2028
2171
22102
23103
24144

Answer & Explanation Solved by verified expert
4.1 Ratings (510 Votes)
Exponential smoothing forecast for period t Ft alphaActualt1 1alphaForecast t1where alpha is smoothing constantBias indicates on an average basis whether the forecast is toohigh    See Answer
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