Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those 5 previous months. Use the 3-period weighted moving average method to forecast the number of sales to expect next month. Use the following weights: 0.4 for the most recent, 0.3 for the 2nd most recent, and 0.3 for the 3rd most recent. Month Demand Forecast 1 308 337 2 388 341.4 3 344 368 4 400 342.8 5 341 378.4
Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those 5 previous months. Use the 3-period weighted moving average method to forecast the number of sales to expect next month. Use the following weights: 0.4 for the most recent, 0.3 for the 2nd most recent, and 0.3 for the 3rd most recent. Month Demand Forecast 1 308 337 2 388 341.4 3 344 368 4 400 342.8 5 341 378.4
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 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those 5 previous months. Use the 3-period weighted moving average method to
Month | Demand | Forecast |
1 | 308 | 337 |
2 | 388 | 341.4 |
3 | 344 | 368 |
4 | 400 | 342.8 |
5 | 341 | 378.4 |
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