Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I would like some assistance with following Linnear Programming and Quantitative Analysis (b) MONTH ACTUAL SALE Jan 15 Feb 16 Mar 14 Apr 18 May
I would like some assistance with following Linnear Programming and Quantitative Analysis
(b) MONTH ACTUAL SALE Jan 15 Feb 16 Mar 14 Apr 18 May 21 Jun 20 Jul 19 Aug 22 Sep 24 (a) Use the three-month moving average to forecast the demand from April to September in the table above. [2 marks] (b) Use the three-month weighted moving average to forecast the demand from April to September in the table above using weights 0.23, 0.35, 0.42. [2 marks] (c) Given an alpha (a) value of 0.35, use the exponential smoothing method of forecasting to predict the demand from February to September in the table above. [4 marks] (d) Use the Mean Absolute Deviation (MAD) and the Mean Absolute Percent Error (MAPE) to compare the two methods, and state which is the most efficient one to use. [3 marks]Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started