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= The demand manager of Maverick Jeans is responsible sufficient warehouse space for the finished jeans that the production plants. It has occasionally been necessary ic warehouse space, something that Maverick would like order to estimate the space requirements the demand evaluating moving-average forecasts. The demand (in inits) for the last fiscal year is shown below

= The demand manager of Maverick Jeans is responsible sufficient warehouse space for the finished jeans that the production plants. It has occasionally been necessary ic warehouse space, something that Maverick would like order to estimate the space requirements the demand evaluating moving-average forecasts. The demand (in inits) for the last fiscal year is shown below

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter10: Introduction To Simulation Modeling
Section: Chapter Questions
Problem 41P: At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 =...
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Month Demand Forecast Error 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Abs Error Problem 6: The demand manager of Maverick Jeans is responsible for ensuring sufficient warehouse space for the finished jeans that come from the production plants. It has occasionally been necessary to rent public warehouse space, something that Maverick would like to avoid. In order to estimate the space requirements the demand manager is evaluating moving-average forecasts. The demand (in 1,000 case units) for the last fiscal year is shown below. Bias MAD (mean error) Month 1 2 3 4 5 6 7 8 9 10 11 12 Demand 20 18 21 25 24 27 22 30 23 20 29 22 Use a three-month moving average to estimate the month-in- advance forecast of demand for months 4-12. Calculate the Bias and MAD. (Note: Adjust all cell values to two decimal points.)
Transcribed Image Text:Month Demand Forecast Error 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Abs Error Problem 6: The demand manager of Maverick Jeans is responsible for ensuring sufficient warehouse space for the finished jeans that come from the production plants. It has occasionally been necessary to rent public warehouse space, something that Maverick would like to avoid. In order to estimate the space requirements the demand manager is evaluating moving-average forecasts. The demand (in 1,000 case units) for the last fiscal year is shown below. Bias MAD (mean error) Month 1 2 3 4 5 6 7 8 9 10 11 12 Demand 20 18 21 25 24 27 22 30 23 20 29 22 Use a three-month moving average to estimate the month-in- advance forecast of demand for months 4-12. Calculate the Bias and MAD. (Note: Adjust all cell values to two decimal points.)
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