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Forecasting 1. Demand data collected on yearly registrations for a Six Sigma seminar at the Quality...

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Operations Management

Forecasting 1. Demand data collected on yearly registrations fora Six Sigma seminar at the Quality College are shown in thefollowing table

Year123456789101112
Registration400060004000500010000800070009000120001400015000

a. Estimate (forecast) demand again for years 4-12 with a 3-yearweighted moving average in which registrations in the most recentyear are given a weight of 0.50, 0.25, and 0.25.

b. Estimate (forecast) demand again for years 1-12 usingexponential smoothing with a smoothing constant of 0.3. To being,assume that the forecast for year 1 was 5,000 people.

c. Compute the MAD forecasting error for each forecast. Whichforecast is better?

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