As a demand planner at Grootegeluk Mine, you want to determine the monthly sales forecast of coal (in tonnes). Table 1, below, depicts the volume of coal sold by the mine for each of the 12 months of 2022. Table 1: Volume of coal sold monthly during 2022 Year Monthly volume (tonne s) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 21 23 34 37 40 51 54 50 48 36 39 42 1. Using the three-month weighted moving average method, calculate the monthly forecasts for April 2022 to January 2023 by assigning weights of 0.1, 0.3, and 0.6 (the oldest data to the most recent data, respectively) (Round off forecast values to one decimal place). 2. Calculate the mean absolute deviation (MAD) of the forecasts for April 2022 to December 2022 (Round off the answer to two decimal place). 3.
As a demand planner at Grootegeluk Mine, you want to determine the monthly sales
Table 1: Volume of coal sold monthly during 2022
|
Year |
Monthly volume (tonne |
s) |
||||||||||
|
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
|
|
2022 |
21 |
23 |
34 |
37 |
40 |
51 |
54 |
50 |
48 |
36 |
39 |
42 |
1. Using the three-month weighted moving average method, calculate the monthly forecasts for April 2022 to January 2023 by assigning weights of 0.1, 0.3, and 0.6 (the oldest data to the most recent data, respectively) (Round off forecast values to one decimal place).
2. Calculate the mean absolute deviation (MAD) of the forecasts for April 2022 to December 2022 (Round off the answer to two decimal place).
3.
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