OMGT2229: Strategic Supply Chain Assignment, RMIT, Singapore Estimate demand for the next three using a 3-month moving average, simple exponential
| University | RMIT University (RMIT) |
a) Estimate demand for the next three using a 3-month moving average, simple exponential smoothing with a = 0.1, and Holt’s model to estimate the demand with a = 0.1 and /1= 0.2.
b) Evaluate the MAD, MAPE, bias, and TS in each case. Which of the three methods is better? Why?
c) What should the values of a and gin Holt’s model be in order to minimize the MAD?
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