Question

Complete PART (b) ONLY. Please use answer from Part (a). Please complete this using EXCEL; SHow the steps/ excel calculations.

Month	Actual Demand
1	62
2	65
3	67
4	68
5	71
6	73
7	76
8	78
9	78
10	80
11	84
12	85

part (a)

Calculate the single exponential smoothing forecast for periods 2-12 using an initial forecast (F) of 61 and an a of 0.30.

MY answer to Part (a):

Part (b)

(b) Now calculate all the measures of forecasting accuracy listed below for the single exponential smoothing forecast completed in part (a)

-i) MAPE (Mean Absolute Percent Error)

- ii) MSE (Mean squared error)

- iii) MAD (Mean absolute Deviation)

PLEASE SHOW YOUR WORK USING EXCEL

FORMULAS:

Answer 1

Answer

month error absolute error 2 error] % error 1 65 3.70 4.59 actual forecast demand ES a=0.3 62 61.00 61.30 67 62.41 68 63.79 71 65.05 66.84 76 68.68 70.88 78 73.02 74.51 76.16 78.51 total 1 3.70 4.59 4.21 5.95 6.16 7.32 7.12 4.98 5.49 7.84 6.49 64.86 1.00 13.69 21.07 17.75 35.39 37.95 53.51 50.70 24.84 30.13 61.47 42.12 389.62 4.21 5.95 6.16 7.32 7.12 4.98 5.49 7.84 6.49 64.85 1.61 5.69 6.85 6.20 8.38 8.44 9.63 9.13 6.39 6.86 9.33 7.64 86.14 78 mean absolute deviation MAD (64.85/12) 5.40 mean squared error MSE (389.62/12) 32.47 mean absolute percentage error MAPE (86. 14/12) 7.18%

(Please like the answer it will encourage me.)