B A 360 Lecture Notes - Lecture 8: Exponential Smoothing, Point Estimation, Amate
Document Summary
Three a must for managing business operations quantitative methods of forecasting average (most amate) average. Exponential smoothing and mape smoothing forecasting error present. 3 measures of the exponential in an actual data, there would be forecast and the exponential an increasing lag in our smoothing must be adjusted for the trend. < used when changes in one or more independent variables can be used to predict the changes in the dependent variable. A + bx showing correlation between two the unit of use different scales need to convert it to probability distribution forecast is point is just a point estimate the mean of a probability of a future value distribution. Variations in data the multiplicative seasonal model can variations in demand adjust trend for seasonal. I . compute the historical average demand for all demand for each period of: find historical average z . compute the ratio or the periods interest.
