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Amalgamated products which produces chemical materials has the following demand pattern for one of its key products. Weekly demand data is show below: Week Demand
Amalgamated products which produces chemical materials has the following demand pattern for one of its key products. Weekly demand data is show below:
Week | Demand |
1 | 1000 |
2 | 1050 |
3 | 1100 |
4 | 1300 |
5 | 1420 |
6 | 1350 |
7 | 1500 |
8 | 1430 |
9 | 1600 |
10 | 1540 |
11 | 1700 |
12 | 1620 |
13 | 1900 |
14 | 1810 |
15 | 2100 |
- Apply the Holt's Model in forecasting the demand for period 16
- What are the optimal values for alpha and beta?
- Level (alpha) -t=yt+(1)(t1+bt1)
- Trend (beta) - bt=(tt1)+(1)bt1
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