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i need help with the excel exponential smoothing - I have a spread sheet and am look at youtube videos please answer the following Problem 4 Toshiba


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i need help with the excel exponential smoothing - I have a spread sheet and am look at youtube videos  please answer the following

Problem 4

Toshiba uses the YJ-79 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows:

MONTH

PRICE PER CHIP

MONTH

PRICE PER CHIP

January

$1.60

July

1.60

February

1.65

August

1.75

March

1.55

September

1.70

April

1.70

October

1.65

May

1.85

November

1.80

June

1.75

December

1.65

  • Use a 2-month moving average on all the data and plot the averages and the prices.
  • Use a 3-month moving average and add the 3-monthplot to the graph created in part (a).
  • Calculate the mean absolute deviation (MAD) and mean absolute percent error (MAPE).  Which is better the 2-month average or the 3-month average?
  • Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of $1.60. Use α = .1, then α = .3, and finally α = .5. Using MAD, which α is the best?

 


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