The following data are available for the demand for a piece that is manufactured

Question

The following data are available for the demand for a piece that is manufactured as a part of a larger product.

                        Week              Demand
                           1                        10
                           2                        13
                           3                        12
                           4                        11
                           5                        17
                           6                        15
                           7                        13
                           8                        12

For the 4-week moving average, the Absolute Deviation (or Absolute Error) for Week 6, to two decimal places, is:

If we apply the method of Exponential Smoothing with alpha=0.8 and the seed value S0 = 10 to the data above, the exponential smooth average for Week 3, to two decimal places, is:

Explanation / Answer

Here Absolute Deviation for week 6 = 15 - 13.25 = 1.75

Here alpha = 0.08

seed value S0 = 10

exponential smooth average for Week 3 = 12.4

week Demand 4MA 1 10 2 13 3 12 4 11 5 17 11.5 6 15 13.25 7 13 13.75 8 12 14

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