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below table is the forecast for the monthly demands for Year 6 using moving average , simple exponential smoothing , Holts' model, and Winter's model

below table is the forecast for the monthly demands for Year 6 using moving average, simple exponential smoothing, Holts' model, and Winter's model.

Method

MAD

MSE

MAPE

TS

BIAS

Moving Average (4 period)

4339.34

33,101,562.50

87.04%

0.79

-32250

Simple Exponential Smoothing with = 0.11

4338.43

28,126,025.55

80.24%

0.84

-28342.71

Holt's Model = 0.1 and = 0.2

4084.74

24,194,135.58

77.52%

-2.47

10100.86

Winter's Model with = 0.1 and = 0.2

17668.79

1,207,933,249.00

373.83%

40.51

715743.64

based on the table, which is the best forecasting method for the case? justify your answer.

(you may refer to Chapter 7 "demand forecasting in a supply chain"), Sunil Chopra and Peter Meindl, Supply Chain Management: Strategy, Planning, and Operation, Pearson, 2010)

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