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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)
Subject OMGT2229: Strategic Supply Chain
Posted on: 21st Jul 2023

OMGT2229: Strategic Supply Chain Assignment, RMIT, Singapore Estimate demand for the next three using a 3-month moving average, simple exponential

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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