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Given the following historical data, what is the moving-average forecast for period 6 based on the last three periods?Period Value1 332 283 254 325 27Did is solve correctly I tried it in excel is 29.5 corrector do avg(25+32+27)/3 =29Please advise?

Question

Given the following historical data, what is the moving-average forecast for period 6 based on the last three periods?
Period Value
1 33
2 28
3 25
4 32
5 27

Did is solve correctly I tried it in excel is 29.5 correct
or do avg(25+32+27)/3 =29
Please advise?

check_circleAnswer
Step 1

Calculation of moving average forecast for period 6 based on the last three periods:

The formula for calculating moving average forecast is:

 

 

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Operations Management

Causal forecasting method

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