A supermarket has experienced weekly demand of milk of D1 = 120, D2 = 127, D3 = 114, and D4 = 122 gallons over the past four weeks. Forecast demand for Period 5 using a four-period moving average. What is the forecast error if demand in Period 5 turns out to be 125 gallons?
A supermarket has experienced weekly demand of milk of D1 = 120, D2 = 127, D3 = 114, and D4 = 122 gallons over the past four weeks. Forecast demand for Period 5 using a four-period moving average. What is the forecast error if demand in Period 5 turns out to be 125 gallons?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 9P
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1) A supermarket has experienced weekly demand of milk of D1 = 120, D2 = 127, D3 = 114, and
D4 = 122 gallons over the past four weeks. Forecast demand for Period 5 using a four-period
moving average. What is the forecast error if demand in Period 5 turns out to be 125 gallons?
2)
Consider the supermarket in Example 7-1, in which weekly demand for milk has been D1 = 120,
D2 = 127, D3 = 114, and D4 = 122 gallons over the past four weeks. Forecast demand for Period
5 using weighted average method. Assign weights yourself.
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