Exponential smoothing, moving average, trend projection, MAD
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Demand for widgets steadily increasing.
year 1 2 3 4 5 6
widgets 45 50 52 56 58 ?
6 years ago it wss predicted that demand in year 1 would be 41 widgets.
a. use exponential smoothing constant of .6 and then .9 to project forecasts for years 2 through 6.
b. use 3 yr moving average to forecast demand in years 4,5, 6.
c. use trend projection method to forecast demand in years 1-6.
d. with MAD as the criterion, which of the four forecasting methods is best
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Solution Summary
Uses moving average, trend projection, exponential smoothing for making forecasts.
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