JME_V3_N4_RP5
Determination of Exponential Smoothing Constant For Demand Forecasting of Milk Product (Paneer) in Chhattisgarh, India
Pradeep Sahu
Journal on Mechanical Engineering
2249 - 0744
3
4
33
38
Milk Product, Exponential Smoothing Constant, Mean Absolute Deviation (MAD) and Mean Square Error (MSE)
This paper examines the appropriate value of exponential smoothing constant to minimize error for forecasting. Trial and error method is used to determine the optimal value of exponential smoothing constant. Based on literature survey, weekly data collected over October 2011 to October 2012 from Raipur Dugdh Sangh (Devbhog Dairy Industry) in Chhattisgarh. The accuracy of the forecasting method was measured using mean Absolute Deviation (MAD) and mean Square Error (MSE). The value of the smoothing constant that minimize a measure of forecast error like mean Absolute Deviation (MAD) and mean Square Error (MSE) are calculated.
August - October 2013
Copyright © 2013 i-manager publications. All rights reserved.
i-manager Publications
http://www.imanagerpublications.com/Article.aspx?ArticleId=2486