Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table: YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15 a) Develop a trend line for the demand for fertilizer using any computer software? b) For these three forecasts, 3-year moving average, a weighted moving average, and a trend line, which one would you use? Explain your answer?
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Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table:
|
YEAR |
DEMAND FOR FERTILIZER (1,000S OF BAGS) |
|
1 |
4 |
|
2 |
6 |
|
3 |
4 |
|
4 |
5 |
|
5 |
10 |
|
6 |
8 |
|
7 |
7 |
|
8 |
9 |
|
9 |
12 |
|
10 |
14 |
|
11 |
15 |
a) Develop a trend line for the demand for fertilizer using any computer software?
b) For these three forecasts, 3-year moving average, a weighted moving average, and a trend line, which one would you use? Explain your answer?
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