Actual sales of TV's for the first six month in 2021 were as follows: January      60            February     80          March   42 April           68            May             44           June     72 Use this information and determine in whole numbers: 1 The average actual monthly sales for that period          2 Trends: Reduce this average by 6% per month for the next three months    3 Simple Moving Average (SMA): make a forecast for July using a three months simple moving average.        4 Weighted Moving Average (WMA): make forecast for July, using a three months weighted moving average where the weights are 0.5; 0.3 and 0.2 respectively.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

Actual sales of TV's for the first six month in 2021 were as follows:
January      60            February     80          March   42
April           68            May             44           June     72

Use this information and determine in whole numbers:

1 The average actual monthly sales for that period         

2 Trends: Reduce this average by 6% per month for the next three months   

3 Simple Moving Average (SMA): make a forecast for July using a three months simple moving
average.       


4 Weighted Moving Average (WMA): make forecast for July, using a three months weighted
moving average where the weights are 0.5; 0.3 and 0.2 respectively.

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Multiplicative Exponential demand Model
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education