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The manager of a travel agency asked you to come up with a forecasting technique that will best fit to the actual demand for packaged
The manager of a travel agency asked you to come up with a forecasting technique that will best fit to the actual demand for packaged tours. You have observed and recorded the actual demand for the last 10 periods. You also identified two possible techniques for consideration: 2-month moving averages (F1), and exponential smoothing (F2) with a smoothing constant of 0.40. Using Cumulative Forecasting Error (CFE) and Mean Absolute Deviation (MAD) as your performance measures you will determine the technique that will best fit to the actual demand data provided in the following table
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