Consider the following time series: Period 1 2 3 4 5 6 7 8 Demand 15 24
Question:
Consider the following time series:
Period 1 2 3 4 5 6 7 8 Demand 15 24 26 33 20 22 27 20
a. Forecast the demand for Period 9 using exponential smoothing with a = 0.1.
b. Calculate the MAD for the forecast in part a.
c. Forecast the demand for Period 9 using exponential smoothing with a = 0.3.
d. Calculate the MAD for the forecast in part c.
e. Which forecast would you choose?
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