Here are the data for the past 21 months for actual sales of a particular product: January February March April May June July August September October November December LAST YEAR 330 450 455 455 410 435 400 310 355 480 555 540 THIS YEAR 285 385 355 410 440 350 Forecast for the fourth quarter 390 300 395 Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Solve the problem using quarters, as opposed to forecasting separate months. Note: Round your answer to 2 decimal places.

Here are the data for the past 21 months for actual sales of a particular product: January February March April May June July August September October November December LAST YEAR 330 450 455 455 410 435 400 310 355 480 555 540 THIS YEAR 285 385 355 410 440 350 Forecast for the fourth quarter 390 300 395 Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Solve the problem using quarters, as opposed to forecasting separate months. Note: Round your answer to 2 decimal places.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 28P: The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present...

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