Q5) Historical demand for a product is
Demand
t (in 1000)
January 1 320
February 2 315
March 3 345
April 4 375
May 5 360
June 6 350
Compute the forecast for July,
a) Using 2-period simple moving average.
b) Using a 3-period weighted moving average with weights w1 = 0.4, w2 =
0.4, and w3 = 0.2.
c) Using simple exponential smoothing with α=0.5 (assume that F1 =
320).
d) Using exponential smoothing with trend with α=0.4 and δ=0.5 (assume
that F1=310, T1=10).
Answer to Question 5
a) forecast for July = (360+350) / 2
b) w1(350) + w2(360) + w3(375)
0.4(350) + 0.4(360) + 0.2(375)
140+144+75 = 350 for July
c)
= 320
= 350
= 320 + 0.5(350-320)
= 335
d)
( 310 + 10 = 320
T = 10 + 0.5(332-320) = 16
Business Homework Solutions
#45639
Operations management, please correct/check my work
please correct/check my work as i dont have an answer key!
thanks
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