Your manager is trying to determine what forecasting method to ues. Based upon the following historical data.,calculating the following forecast and specify what procedure you would utilize. Your manager is trying to determine what forecasting method to use. Based upon the following historical data, calculate the followingforecast and specify what procedure you would utilize.Month Actual Demand16226536746857167376878978108011841285a. Calculate the simple three-month moving average forecast for periods 4 to 12.b. Calculate the weighted three-month moving average using weights of 0.50, 0.30, and 0.20 for periods 4 to 12.c. Calculate the single exponential smoothing forecast for periods 2 to 12 using an initial forecast (F1) of 61 and an a of 0.30.d. Calculate the exponential smoothing with trend component forecast for periods 2 to 12 using an initial trend forecast (T1) of 1.8, aninitial exponential smoothing forecast (Fj) of 60, an a of 0.30, and a ð of 0.30.e. Calculate the mean absolute deviation (MAD) for the forecasts made by each technique in periods 4 to 12. Which forecasting methoddo you prefer?

Since you have asked multiple questions, we will solve the first question for you. If you want any…

Answered: a. Calculate the simple three-month…

Business

Operations Management

a. Calculate the simple three-month moving average forecast for periods 4 to 12.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...

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Question

Your manager is trying to determine what forecasting method to ues. Based upon the following historical data.,calculating the following forecast and specify what procedure you would utilize.

Your manager is trying to determine what forecasting method to use. Based upon the following historical data, calculate the following
forecast and specify what procedure you would utilize.
Month Actual Demand
1
62
2
65
3
67
4
68
5
71
6
73
76
8
78
9
78
10
80
11
84
12
85
a. Calculate the simple three-month moving average forecast for periods 4 to 12.
b. Calculate the weighted three-month moving average using weights of 0.50, 0.30, and 0.20 for periods 4 to 12.
c. Calculate the single exponential smoothing forecast for periods 2 to 12 using an initial forecast (F1) of 61 and an a of 0.30.
d. Calculate the exponential smoothing with trend component forecast for periods 2 to 12 using an initial trend forecast (T1) of 1.8, an
initial exponential smoothing forecast (Fj) of 60, an a of 0.30, and a ð of 0.30.
e. Calculate the mean absolute deviation (MAD) for the forecasts made by each technique in periods 4 to 12. Which forecasting method
do you prefer?

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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