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1. Monthly data for a plastic container for a period of 10 months is given below: _________________________________________________________________________________ Month 1 2 3 4 5 6 7
1. Monthly data for a plastic container for a period of 10 months is given below:
_________________________________________________________________________________
Month 1 2 3 4 5 6 7 8 9 10
_________________________________________________________________________________
Demand 335 420 485 450 470 630 650 700 680 640
_________________________________________________________________________________
- Use an exponential smoothing with no trend in a conventional manner. Choose a = 0.25. Determine bias, MAD, and MSD and comment on the results.
- Does it improve the forecast if you use an exponential smoothing with a linear trend and smoothing constants a = 0. 3 and b = 0.2?
- Suggest a modification of exponential smoothing (if necessary) that makes more sense for this situation.
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