Franklin Tooling, Inc., manufactures specialty fooling for firms in the paper making industry….

Franklin Tooling, Inc., manufactures specialty fooling for firms in the paper making industry. All of the products are engineer-to-order and so the company never know exactly what components to purchase for a tool until a customer place an order. However, the company believes that weekly demand for a few components is fully stable Component 135 AG is one suchom The last 28 weeks of historical use of component 135 AG is recorded below Week Demand Week Demand + 127 14 121 2 126 15 3 122 133 B 114 4 136 12 111 5 131 18 117 8 118 19 TO 130 20 110 126 21 105 124 22 98 132 23 105 11 115 24 103 12 114 25 111 13 100 20 100 Use OM Explorer’s Time Series Forecasting Solver to evaluate the following forecasting methods, Start error measurement in no ti wok soal methods are avuted over the same time interval Use the default settings for initial forecasts Naive (1-Period Moving Average) The CFE (or mean bio) (Enter your response rounded to two decimal places) The MAD (Enter your response rounded to two decimal poo) The MSE Enter your response rounded to two decimal places) The MAPE is %. (Enter your response rounded to two decimal places.) (ii) 3-Period Moving Average. The CFE is (Enter your response rounded to two decimal places.) The MAD is (Enter your response rounded to two decimal places.) The MSE is (Enter your response rounded to two decimal places.) The MAPE is %. (Enter your response rounded to two decimal places.) (lit) Exponential smoothing, with a = 0.14 The CFE is (Enter your response rounded to two decimal places.) The MAD is (Enter your response rounded to two decimal places.) The MSE is (Enter your response rounded to two decimal places.) The MAPES %. (Enter your response rounded to two decimal places.) (iv) Trend projection with Regression. The CFE is (Enter your response rounded to two decimal places.) The MAD IS (Enter your response rounded to two decimal places.) The MSE is (Enter your response rounded to two decimal places.) The MAPE is l%. (Enter your response reunded to two decimal places.) (v) Which forecasting method should management use? The CFE is (Enter your response rounded to two decimal places.) The MAD is (Enter your response rounded to two decimal places.) The MSE is (Enter your response rounded to two decimal places.) The MAPE is [%. (Enter your response rounded to two decimal places.) (v) Which forecasting method should management use? If CFE is the performance criterion chosen by the administration, it should choose method. If MAD is the performance criterion chosen by the administration, it should choose method. If MSE is the performance criterion chosen by the administration, it should choose method. If MAPE is the performance criterion chosen by the administration, it should choose method.

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