Weekly demand for an item averaged 100 units over the past year. Actual demand for the next
Question:
Weekly demand for an item averaged 100 units over the past year. Actual demand for the next eight weeks is shown in what follows:
a. Plot the data on graph paper.
b. Letting α = 0.25, calculate the smoothed forecast for each week.
c. Comment on how well the forecast is tracking actual demand. Is it lagging or leading actual demand?
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a Plot b Smoothed forecast last week actual demand1last week forecast Smoothed forecast week 2 ...View the full answer
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Related Book For 
Introduction To Materials Management
ISBN: 978-9386873248
8th edition
Authors: Arnold J. R. Tony, Gatewood Ann K., M. Clive Lloyd N. Chapman Stephen
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