Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Given:
A time series forecasting technique called exponential smoothing may be expanded to handle data with a systematic trend or seasonal component.
We know that, F(t) = F(t-1) + (Alpha * (A(t-1) - F(t-1)))
Here F(t-1) is the forecast for the previous period, and also A(t-1) is the actual demand for the previous period.
Absolute Deviation = ABS(Registrations - Exponential Forecast)
MAD = (SUM OF ABSOLUTE DEVIATIONS) / N
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