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The following table contains the demand from the last 5 months. Month Actual Demand 1/31 2/34 3/29 4/35 5/37 a.Calculate the single exponential...
The following table contains the demand from the last 5 months.
Month
Actual Demand
1/31
2/34
3/29
4/35
5/37
a. Calculate the single exponential smoothing forecast for these data using an α of 0.35 and an initial forecast (F1) of 31. Report the forecast for Month 6 in AnswerSheet. Show your work in worksheet "Q1."
b. Calculate the exponential smoothing with trend forecast for these data using an α of 0.4, a β of 0.30, an initial trend forecast (T1) of 1, and an initial exponentially smoothed forecast (F1) of 30. Report the forecast including trend for Month 6 in AnswerSheet. Show your work in worksheet "Q1."
c. Calculate the mean absolute deviation (MAD) for each forecast. Which forecasting method performs better in this problem (pick from the list)? Show your work in worksheet "Q1."
