Determination of Optimal Smoothing Constants for Holt - Winter’s Multiplicative Method

Authors

  • Md Nayan Dhali Department of Mathematics, Jashore University of Science & Technology, Jashore-7408, Bangladesh
  • Nandita Barman Department of Information and Communication Technology, Bangladesh University of Professional, Dhaka-1216, Bangladesh
  • M Babul Hasan Department of Mathematics, Dhaka University, Dhaka-1000, Bangladesh

DOI:

https://doi.org/10.3329/dujs.v67i2.54580

Keywords:

Exponential Smoothing; Holt-Winter’s Multiplicative Method; Smoothing Constants; Forecast Error.

Abstract

There are many trade time series parade having seasonality. This paper ponders on taking the appropriate smoothing constants of seasonal time series data using Holt-Winter’s exponential smoothing method in demand forecasting of toy production in a company. It is a quantitative technique in forecasting. This forecasting method is used three constants that assign weights to current demands and previous forecasts to decide on a new forecast. We have demonstrated the techniques how to choose these constants by presenting a real life example and calculated corresponding forecast value of this technique for the optimal smoothing constants.

Dhaka Univ. J. Sci. 67(2): 99-104, 2019 (July)

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Published

2019-07-30

How to Cite

Dhali, M. N., Barman, N., & Hasan, M. B. (2019). Determination of Optimal Smoothing Constants for Holt - Winter’s Multiplicative Method. Dhaka University Journal of Science, 67(2), 99–104. https://doi.org/10.3329/dujs.v67i2.54580

Issue

Vol. 67 No. 2 (2019)

Section

Articles