Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Transcribed Image Text:12.5 The chairperson of the department of management at Tech wants to forecast the
number of students who will enroll in operations management next semester in order
to determine how many sections to schedule. The chair has accumulated the following
enrollment data for the past eight semesters:
Semester
1
2
3
4
5
6
Students Enrolled in OM
270
310
250
290
370
410
Transcribed Image Text:data.
7
8
400
450
a. Compute a three-semester moving average forecast for semesters 4 through 9.
b. Compute the exponentially smoothed forecast (a = 0.2) for the enrollment
c. Compare the two forecasts using MAD and indicate the most accurate.
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Step 1 Introduction:-
Forecasting is a technique used to predict future outcomes on the basis of past data. In business forecasting techniques are commonly used for different areas like allocating the budget, future expenses, sales and demand in the upcoming period, etc. There are various forecasting techniques. The techniques are chosen as per the type or characteristic of the forecast to be done. Both software and manual -based forecasting is also done in different fields.
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