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Operations Management
Actual 100 liters Demand NA SMA WMA ES Month 100 liters F |A – F | F |A -F| F |A – F| F |A – F|| 1 39 47 3 39 4 44 49 6 48 7 45 8 56 53 10 61 11 MAD

Actual 100 liters Demand NA SMA WMA ES Month 100 liters F |A – F | F |A -F| F |A – F| F |A – F|| 1 39 47 3 39 4 44 49 6 48 7 45 8 56 53 10 61 11 MAD

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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1. Using MAD as the criterion, which of the following models would you use for the
given time series data? Why?
A. Naïve approach;
B. 5-month SMA model;
C. WMA model with weights 0.1, 0.3, and 0.6; or
D. ES model with α = 0.5 and a forecast of 3,500 liters in the first month.
NOTE: In answering Item 1, mention the whole description of the model; i.e., not just
“SMA model”, but “SMA model with n = ...”; not just “WMA model”, but “WMA model
with weights ...”; not just “ES model”, but “ES model with α = ...”.

Actual 100 liters Demand NA SMA WMA ES Month 100 liters F |A – F| F |A – F| F |A – F| F |A – F| 1 39 47 39 4 44 49 6. 48 7 45 8 56 9 53 10 61 11 MAD
Transcribed Image Text:Actual 100 liters Demand NA SMA WMA ES Month 100 liters F |A – F| F |A – F| F |A – F| F |A – F| 1 39 47 39 4 44 49 6. 48 7 45 8 56 9 53 10 61 11 MAD
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