Q1. Given the following data, compute the MAD for the forecast.
Year Demand Forecast
|
2001
|
16
|
18
|
|
2002
|
20
|
19
|
|
2003
|
18
|
24
|
Q2. The following data summarizes the historical demand for a product:
|
Month
|
Actual Demand
|
|
March
|
20
|
|
April
|
25
|
|
May
|
40
|
|
June
|
35
|
|
July
|
30
|
|
August
|
45
|
If the forecasted demand for June, July and August is 32, 38 and 42, respectively, what is MAPD? Write your answer in decimal form and not in percentages. For example, 15% should be written as 0.15. Use three significant digits after the decimal.
Q3. The following data summarizes the historical demand for a product.
|
Month
|
Actual Demand
|
|
March
|
20
|
|
April
|
25
|
|
May
|
40
|
|
June
|
35
|
|
July
|
30
|
|
August
|
45
|
Use exponential smoothing with α = .2 and the smoothed forecast for July is 32. Determine the smoothed forecast for August.