Question
The monthly demand for units manufactured by the Rocket Company has been as follows: Use the exponential smoothing method to forecast June to January.
The monthly demand for units manufactured by the Rocket Company has been as follows: Use the exponential smoothing method to forecast June to January. The initial forecast for May was 100 units; a = 0.1. . Calculate the absolute percentage error starting from June and the MAD and MAPE of forecast error. Study the impact of a on the performance of your forecasting method i.e. calculate MAD, and MAPE for a = 0.2, 0.3 and 0.4, and compare the result Month May June July August September October November December January Units 100 102 108 114 110 112 118 125
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Step 12 Actual Demands for May to December has been given and it is also given that the initial forecast for May was 100 units Even if the Initial for...Get Instant Access to Expert-Tailored Solutions
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Introduction to Operations Research
Authors: Frederick S. Hillier, Gerald J. Lieberman
10th edition
978-0072535105, 72535105, 978-1259162985
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