Business Homework Solutions
#7514
Predicting demand: 3-period moving average, exponential smoothing, calculating MAD.
Demand for the last four months was:
Month ----Mar-Apr-May-Jun
Demand-----6---8-----10---8
A) Predict the demand for July using each of these methods:
1) A 3-period moving average
2) Exponential smoothing with alpha equal to 0.20
B) If the naive approach had been used to predict demand for April through June, what would the MAD have been for those months?
The solution predicts demand using the difference method including a brief discussion about the preference for the method.
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