Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Table 2. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the
Table 2. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the past 20 weeks appears in table 1 below week Deman d 1 20 234 2 28 3 22 4 18 5 22 6 22 7 22 88 26 9 23 10 23 11 23 12 27 13 25 14 22 15 23 16 14 17 14 18 15 19 11 20 16 21 22 23 22 24 Forecast Error Abs.Dev SQ Error APE Using the exponential smoothing forecasting techniques with a = .40. a). Compute the exponentially smoothed forecast average without trend: Use this formula F= a(A)+(1- ) F-1 to calculate separately the forecast for all the required weeks in the table provided, before inserting the answers from your calculations in the forecast column of the table. b). Calculate the Mean Absolute Deviation (MAD). c). Mean Square Error (MSE). d). Mean Absolute Percentage Error (MAPE). 3
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