Product Orders (Demand) Information

The company provides you with the following information for the past two fiscal years:

Demand Characteristic	2019	2020
Annual Demand, sets	26,918	31,763
Average Weekly Demand	518	611
Standard Deviation of weekly Demand	130	153

Product Forecasting Information

Throx uses two main forecasting methods based on annual data to predict orders for the following year, a weighted moving average and exponential smoothing. They provide you with the following information about forecasts for FY 2017 through FY2020:

	Actual Demand (Three Sock Sets)	Weighted Moving Average Fcst	Exponential Forecast
2017	18,850	15,500	16,300
2018	22,432	17,060	18,340
2019	26,918	20,614	21,613
2020	31,763	24,765	25,857

Weighted Moving Average uses W_t = 0.6, W_t-1 =0.3 W_t-2 =0.1

Exponential Smoothing uses = 0.8.

Calculate measures of forecast accuracy: MFE, MAD and MAPE using the data from FY2017 through FY2020.

Note unlike your homework/tests where we utilized multiple months this is just for the four years (treat them like months).