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  3. please answer the following: united dairies, inc.

Please answer the following: United Dairies, Inc., supplies milk to several independent grocers throughout Dade County, Florida....

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Basic Math

Please answer the following:

  1. United Dairies, Inc., supplies milk to several independentgrocers throughout Dade County, Florida. Managers at United Dairieswant to develop a forecast of the number of half gallons of milksold per week. Sales data for the past 12 weeks are:

Week

Sales

1

2,750

2

3,100

3

3,250

4

2,800

5

2,900

6

3,050

7

3,300

8

3,100

9

2,950

10

3,000

11

3,200

12

3,150

.

  1. Show the exponential smoothing forecasts using α = 0.1.
    1. Applying the MSE measure of forecast accuracy, would you prefera smoothing constant of α=0.1 or α= 0.2 for the United Dairiessales time series?
    2. Are the results the same if you apply MAE as the measure ofaccuracy?
    3. What are the results if MAPE is used?

2.    Use exponentialsmoothing with a α = 0.4 to develop a forecast of demand for week13. What is the resulting MSE?

           

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