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Historical demand for clothes at a Hot Tropic store is as follows:
Month
Demand
January
15
February
18
March
31
April
39
May
44
June
53
(a) Develop forecasts for May and June using a three-month moving average.
(b) Develop forecasts for May and June using Holt's model with α = 0.2, and β =0.1.
(c) What is the MAD for the forecasted demand in (a) and (b)? Which model will you choose?
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The given word file contains the problem involving the Time Series and forecasting using Moving Average Method and Holt's method.
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