Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note, the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, Dec. Last year This year JAN FEB MAR APR MAY JUN JUL 100 125 135 175 185 200 150 125 135 135 190 200 190 Forecast for the third quarter AUG SEP OCT NOV DEC 140 130 200 225 250
Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note, the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, Dec. Last year This year JAN FEB MAR APR MAY JUN JUL 100 125 135 175 185 200 150 125 135 135 190 200 190 Forecast for the third quarter AUG SEP OCT NOV DEC 140 130 200 225 250
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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Industry demand, supply, and price changes can all be predicted with a little bit of research and planning, which is what forecasting is all about. Forecasting the future of an industry requires researching the competitors, gathering information from suppliers and assessing historical trends.
A moving average may be used to smooth out changes in demand for a product and improve forecasts when the demand is stable (increasing or decreasing slowly) and not cyclical.
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