Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Q1. (3 marks) Using the demand data supplied in the below table, please calculate the following from your company's forecasting perspective. Please use Excel to
Q1. (3 marks) Using the demand data supplied in the below table, please calculate the following from your company's forecasting perspective. Please use Excel to calculate your forecasting answers, so behind the cells in Excel, there has to be formulas for answering the below questions. Your company wants to forecast the demand for their product, based on the data below.
- Calculate the simple five-week moving average for weeks 6 through 12
- Calculate the simple three-week moving average for weeks 6 through 12
- Calculate the weighted three-week moving average using weights of 0.40, 0.40, and 0.20 for weeks 6 through 12
- Calculate the forecast using Linear Regression for weeks 6 through 12
- Calculate the MAD and MAPE for all four of the forecasting models. Which forecast method do you recommend and why?
Week | Demand |
1 | 4000 |
2 | 4250 |
3 | 4400 |
4 | 5000 |
5 | 5250 |
6 | 6000 |
7 | 6300 |
8 | 6500 |
9 | 7020 |
10 | 7500 |
11 | 8200 |
12 | 8400 |
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