Weekly demand (for hot pizza) figures at Pizza Hut Bangladesh are as follows: Week Demand (Units) 1st 118 2nd 107 3rd 134 4th 96 5th 112 6th 92 7th 108 Estimate demand for the next 4 weeks using a 4 week moving average method. What is the forecast error if the sales in these weeks are 106, 99, 108, and 110 units respectively?
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businessoperations managementoperations management questions and answers Weekly Demand Figures At Hot Pizza Are As Follows: Week Demand($) 1 108 2 116 3 118 4 124 ...
Question: Weekly Demand Figures At Hot Pizza Are As Follows: Week Demand($) 1 108 2 116 3 118 4 124 5 96 6 119 7 96 8 102 9 112 10 102 11 92 12 91 Using The Hot Pizza Weekly Demand Figures Provided, Estimate Demand For Week 4 To Week 12 By Using A 3-week Moving Average As Well As Simple Exponential Smoothing With α = 0.2. Evaluate The MAD, MAPE, MSE, Bias, ...
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Weekly demand figures at Hot Pizza are as follows:
Week Demand($)
1 108
2 116
3 118
4 124
5 96
6 119
7 96
8 102
9 112
10 102
11 92
12 91
Using the Hot Pizza weekly demand figures provided, estimate demand for Week 4 to Week 12 by using a 3-week moving average as well as simple exponential smoothing with α = 0.2. Evaluate the MAD, MAPE, MSE, bias, and TS in each case. Which of the two methods do you prefer? Why? Include all calculations as well as your narrative explanation and summary.