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Analyst at Ayamas Food Corporation Sdn . Bhd , company about forecasting monthly demand for inventory from warehouse. The analyst suggest that Ayamas consider using
Analyst at Ayamas Food Corporation Sdn Bhd company about forecasting monthly demand for inventory from warehouse. The analyst suggest that Ayamas consider using exponentia! smoothing with smoothing constants and Ayamas decides to compare the accuracy of the smoothing constants for the most recent second quarter of the year. Below is the data for the most recent quarter.
tableMonthtableSalesThousands of RMDecemberJanuaryFebruaryMarchAprilMayJune
a Calculate the exponential smoothing forecast for periods January to June. Use and
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b Calculate the mean absolute deviation MAD for the forecast. Based on MAD, which forecasting method is the best.
e Forecast July use the smallest mean absolute deviation.
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Total: Marks
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