Answered: FORECAST ACTUAL WEEK DEMAND DEMAND…

Business

Operations Management

FORECAST ACTUAL WEEK DEMAND DEMAND 1234567∞ 135 132 135 128 142 147 140 157 142 177 152 167 145 184 147 204

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter6: Target Markets: Segmentation And Evaluation

Section: Chapter Questions

Problem 17DRQ: Under what conditions might a firm use multiple forecasting methods?

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Question

Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown in the following tables along with the actual demand that occurred.

The following eight weeks show the forecast (based on last year) and the demand that actually occurred (picture attached):

Calculate the MAD and tracking signal for each week.

FORECAST
ACTUAL
WEEK
DEMAND
DEMAND
1234567∞
135
132
135
128
142
147
140
157
142
177
152
167
145
184
147
204

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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