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Forecast

1. Examine these two graphs and based on the demand pattern and axis scaling, recommend a forecasting technique (and the required parameters) that would work best for each one. Justify your recommendations.
[Please refer to the attachment for the Graphs]

2. Develop forecasts for periods 7 through 10 for the demand data in the table using a three period moving average, a weighted moving average using 0.6, 0.3, and 0.1, and exponential smoothing with alpha = 0.7. Use a 6th period forecast of 135 as the starting point for the exponential smoothing technique.

Period Actual
1 64
2 84
3 91
4 97
5 115
6 135
7 137
8 144
9 153
10 171

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Solution Summary

This solution is comprised of detailed analysis and step-by-step calculations of various Forecast Techniques like Exponentially Smoothed Forecast, Weighted Moving Average Forecast etc. in EXCEL. The solution provides students with a clear perspective of the given problems and the related aspects of forecast analysis.

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