Elna inc is a microwave manufacturing and distribution company based in Jakarta. The company needs to estimate production demand using the historical sales data of the last 24 months (periods). A logistics manager of the company then uses the moving average, exponential smoothing, and simple linear regression methods to determine sales forecasts for the next 12 months (Graphically illustrate the results). Provide an analysis and the results of bias, MAPE, MSE, and MAD for the forecasting decisions. Moving average is 4 month, and alfa is 0.05
Elna inc is a microwave manufacturing and distribution company based in Jakarta. The company needs to estimate production demand using the historical sales data of the last 24 months (periods). A logistics manager of the company then uses the moving average, exponential smoothing, and simple linear regression methods to determine sales forecasts for the next 12 months (Graphically illustrate the results). Provide an analysis and the results of bias, MAPE, MSE, and MAD for the forecasting decisions. Moving average is 4 month, and alfa is 0.05
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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Elna inc is a microwave manufacturing and distribution company based in Jakarta. The company needs to estimate production demand using the historical sales data of the last 24 months (periods).
A logistics manager of the company then uses the moving average, exponential smoothing, and simple linear regression methods to determine sales forecasts for the next 12 months (Graphically illustrate the results). Provide an analysis and the results of bias, MAPE, MSE, and MAD for the
Moving average is 4 month, and alfa is 0.05
Transcribed Image Text:Period (Month)
1
2
3
4
сл
678
9
10
11
12
Quantity (unit)
683
417
1613
1614
1747
2678
4673
5604
3742
1481
683
151
Period (Month) Quantity (unit)
13
417
14
1747
15
2412
16
2545
17
4141
18
4540
19
7998
20
8264
21
7466
22
3210
23
1082
24
284
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Step 1: State the given information.
VIEWStep 2: State the formulas to be used.
VIEWStep 3: Calculate the results of bias, MAPE, MSE, and MAD using 4-month moving average.
VIEWStep 4: Calculate the results of bias, MAPE, MSE, and MAD using exponential smoothing method.
VIEWStep 5: Calculate the results of bias, MAPE, MSE, and MAD using simple linear regression method.
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