Operations Management

Learning Goal: I’m working on a management multi-part question and need an explanation and answer to help me learn.

assignment: Attached is your assignment. You will be calculating five forecasts using 3 different methods, 2-month moving average, 3-month weighted moving average and exponential smoothing with 3 different alphas.

Attached are examples of how to do the forecasts. There are two videos attached that demonstrate how to do the forecasts. You do not have to do the naive forecasts in your homework, but I wanted you to see the difference that each forecast provides. I completed these forecasts in EXCEL so you can see the formulas embeded. It is a lot easier to use EXCEL for this assignment. The MAPE calculations are also included in the examples. I did not do the MAD because what is used by most organizations are MAPE. Your work should look similar to the examples I provided. Be sure you are showing how you got your solutions.

Grading Rubric: Total points 25

2 week and 3 week moving average forecasts 3 points each. (total 6)
Exponential smoothing forecasts 3 points each (total 9)
2 week and 3 week MAPE calculations 2 points each (total 4) Important tip: You need to use absolute values for the MAPE calculations. No negative numbers.
Exponential smoothing MAPE calculations 2 points each (total 6)

Final answer on which forecast method is best 1 point. Extra credit

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