The Weekly Demand for a certain commodity has been recorded as follows:Week123456789Demand80014001000150015001300180017001300Week101112131415161718Demand170015002300230020002000210022002300 Using a Naïve Method, determine the Forecast for Week 19Using the Moving average with a 3-week Forecast, what is the demand for Week 19.Using the moving average with a 9-week Forecast, what is the demand for Week 19.State which forecast is best on the result for a., b., and c. forecasts. Explain your answer.Use the exponential smoothing technique with an α = 0.1 to determine the forecast for Week 19.Use the exponential smoothing technique with an α = 0.3 to determine the forecast for Week 19.Which forecast on e., and f. is better? Explain.Use the Least Square Method to determine the forecast for Week 19.

Answered: The Weekly Demand for a certain…

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter8: Time Series Analysis And_forecasting

Section: Chapter Questions

Problem 9P

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The Weekly Demand for a certain commodity has been recorded as follows:

Week	1	2	3	4	5	6	7	8	9
Demand	800	1400	1000	1500	1500	1300	1800	1700	1300
Week	10	11	12	13	14	15	16	17	18
Demand	1700	1500	2300	2300	2000	2000	2100	2200	2300

Using a Naïve Method, determine the Forecast for Week 19
Using the Moving average with a 3-week Forecast, what is the demand for Week 19.
Using the moving average with a 9-week Forecast, what is the demand for Week 19.
State which forecast is best on the result for a., b., and c. forecasts. Explain your answer.
Use the exponential smoothing technique with an α = 0.1 to determine the forecast for Week 19.
Use the exponential smoothing technique with an α = 0.3 to determine the forecast for Week 19.
Which forecast on e., and f. is better? Explain.
Use the Least Square Method to determine the forecast for Week 19.

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The Weekly Demand for a certain commodity has been recorded as follows: Week 1 2 3 4 5 6 7 8 9 Demand 800 1400 1000 1500 1500 1300 1800 1700 1300 Week 10 11 12 13 14 15 16 17 18 Demand 1700 1500 2300 2300 2000 2000 2100 2200 2300 Using a Naïve Method, de