The following table shows the actual demand observed over the last 11 years: year 1 2 3 4 5 6 7 8 9 10 11 demand 8 9 4 10 12 8 13 14 8 11 7 b) Using the 3 year moving average, provide the forecasts from periods 4 through 12 (round your responses to one decimal place) Year 4 5 6 7 8 9 10 11 12 forecast [_] [_] [_] [_] [_] [_] [_] [_] [_]
The following table shows the actual demand observed over the last 11 years: year 1 2 3 4 5 6 7 8 9 10 11 demand 8 9 4 10 12 8 13 14 8 11 7 b) Using the 3 year moving average, provide the forecasts from periods 4 through 12 (round your responses to one decimal place) Year 4 5 6 7 8 9 10 11 12 forecast [_] [_] [_] [_] [_] [_] [_] [_] [_]
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 19P: The file P13_19.xlsx contains the weekly sales of a particular brand of paper towels at a...
Related questions
Question
The following table shows the actual demand observed over the last 11 years:
year 1 2 3 4 5 6 7 8 9 10 11
demand 8 9 4 10 12 8 13 14 8 11 7
b) Using the 3 year moving average, provide the forecasts from periods 4 through 12 (round your responses to one decimal place)
Year 4 5 6 7 8 9 10 11 12
forecast [_] [_] [_] [_] [_] [_] [_] [_] [_]
Expert Solution
Step 1
We can calculate a three-year forecast by using the formula-
Three-year moving average method ( Year 4) = (Demand for year 1 + Demand for year 2 + Demand for year 3) / 3
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
Marketing
Marketing
ISBN:
9780357033791
Author:
Pride, William M
Publisher:
South Western Educational Publishing
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
Marketing
Marketing
ISBN:
9780357033791
Author:
Pride, William M
Publisher:
South Western Educational Publishing