A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures in terms of the number of meals served as follows (Please fill the empty cells of the following table):WeeksNumber of Meals3-periodsMoving Average[Actual - Forecast] (Actual - Forecast)2160 ------296------3103-- -- --461 5122 6101 1. Which one of the following is closest to the forecast of the next week ( F7 ) for the number of meals to be served daily using the 3-periods moving average method ?a)143 b)95 c)57 d)622. Which one of the following is closest to the forecast error ( in terms of MAD ) for the weeks 4, 5 and 6 using the 3-periods moving average method ?a)22 b)29 c)30 d)243. What is the forecast error ( in terms of MSE ) for the weeks 4, 5 and 6 using the 3-periods moving average method ?a)641 b)577 c)705 d)897

Forecasting is critical for any business since it helps the organization to make informed business…

Answered: A restaurant manager with analyzing…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures in terms of the number of meals served as follows (Please fill the empty cells of the following table):

Weeks	Number of Meals	3-periods Moving Average	[Actual - Forecast]	(Actual - Forecast)²
1	60	--	--	--
2	96	--	--	--
3	103	--	--	--
4	61
5	122
6	101

1. Which one of the following is closest to the forecast of the next week ( F₇ ) for the number of meals to be served daily using the 3-periods moving average method ?

a)143 b)95 c)57 d)62

2. Which one of the following is closest to the forecast error ( in terms of MAD ) for the weeks 4, 5 and 6 using the 3-periods moving average method ?

a)22 b)29 c)30 d)24

3. What is the forecast error ( in terms of MSE ) for the weeks 4, 5 and 6 using the 3-periods moving average method ?

a)641 b)577 c)705 d)897

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