The demand and forecast information for the XYZ Company over a 12-month period is shown in the table below. Period Demand Forecast Error MAD MSE MAPE 1 1600 2 2200 3 2000 4 1600 5 2500 6 3500 7 3300 8 3200 9 3900 10 4700 11 4300 12 4400 Calculate: the forecast for period 5 to 12 using a four-period weighted moving average. The weights of 0.4, 0.3, 0.2 and 0.1 are assigned to the most recent, second most recent, third most recent, and fourth most recent periods, respectively. 2. the MAD, MSE and the MAPE and RSFE using the forecast data 3. Determine the tracking signal. Is this a good forecast if the control limit is ±3?
The demand and forecast information for the XYZ Company over a 12-month period is shown in the table below. Period Demand Forecast Error MAD MSE MAPE 1 1600 2 2200 3 2000 4 1600 5 2500 6 3500 7 3300 8 3200 9 3900 10 4700 11 4300 12 4400 Calculate: the forecast for period 5 to 12 using a four-period weighted moving average. The weights of 0.4, 0.3, 0.2 and 0.1 are assigned to the most recent, second most recent, third most recent, and fourth most recent periods, respectively. 2. the MAD, MSE and the MAPE and RSFE using the forecast data 3. Determine the tracking signal. Is this a good forecast if the control limit is ±3?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 20P: The file P13_20.xlsx contains the monthly sales of iPod cases at an electronics store for a two-year...
Related questions
Question
The demand and
Period |
Demand |
Forecast |
Error |
MAD |
MSE |
MAPE |
1 |
1600 |
|
|
|
|
|
2 |
2200 |
|
|
|
|
|
3 |
2000 |
|
|
|
|
|
4 |
1600 |
|
|
|
|
|
5 |
2500 |
|
|
|
|
|
6 |
3500 |
|
|
|
|
|
7 |
3300 |
|
|
|
|
|
8 |
3200 |
|
|
|
|
|
9 |
3900 |
|
|
|
|
|
10 |
4700 |
|
|
|
|
|
11 |
4300 |
|
|
|
|
|
12 |
4400 |
|
|
|
|
|
Calculate:
- the forecast for period 5 to 12 using a four-period weighted moving average. The weights of 0.4, 0.3, 0.2 and 0.1 are assigned to the most recent, second most recent, third most recent, and fourth most recent periods, respectively.
2. the MAD, MSE and the MAPE and RSFE using the forecast data
3. Determine the tracking signal. Is this a good forecast if the control limit is ±3?
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