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

Using the same values for alpha and the seed, the Absolute Deviation (or Absolute Error) for Week 5, to two decimal places, is:

The best forecast method for the data set is the 4-Week Moving Average. (T or F): True or False?

Explanation / Answer

Here alpha for the week 5 is 11.216

Here the   best forecast method for the data set is the 4-Week Moving Average. It is true.

week Demand 4MA 1 10 10 2 13 10 3 12 12.4 4 11 12.08 5 17 11.216 6 15 15.8432 7 13 15.16864 8 12 13.43373

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