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Demand for the past 8 weeks are 130, 108, 149, 121, 146, 123, 132, 143. Use the following methods to forecast demand in the next
Demand for the past 8 weeks are 130, 108, 149, 121, 146, 123, 132, 143. Use the following methods to forecast demand in the next week: (1) 3-week simple moving average; (2) 3-week weighted moving average, with weights 0.1, 0.3, 0.6 for week t-3, t-2, t-1; (3) simple exponential smoothing with alpha=0.2.
For each method, compare the forecast and demand in Week 4-8 and calculate forecasting errors, MAD, MSE, and MAPE.
Week | Demand |
1 | 130 |
2 | 108 |
3 | 149 |
4 | 121 |
5 | 146 |
6 | 123 |
7 | 132 |
8 | 143 |
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