Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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second answer for part C

Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows:
Month
January
February
March
April
May
June
Price Per Chip
$1.90
$1.61
$1.60
$1.85
$1.91
$1.95
Month
July
August
Month
Forecast
September
October
November
December
Month
Mar Apr May Jun Jul
Forecast $1.76 1.61 1.73 1.88 1.93
Apr May Jun Jul
$1.70 1.69 1.79 1.90
This exercise contains only parts a, b, and c.
a) Using a 2-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places):
Price Per Chip
$2.00
$1.70
$1.70
$1.55
$1.50
$1.75
b) Using a 3-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places):
Aug Sep Oct Nov Dec
1.88 1.80 1.65 1.58
1.95
Aug Sep Oct Nov Dec
1.98 1.85 1.70 1.63 1.53
c) The mean absolute deviation based on a 2-month moving average of March through December is $ 0.168 (round your response to three decimal places).
The mean absolute deviation based on a 3-month moving average of April through December is $
(round your response to three decimal places).
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Transcribed Image Text:Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows: Month January February March April May June Price Per Chip $1.90 $1.61 $1.60 $1.85 $1.91 $1.95 Month July August Month Forecast September October November December Month Mar Apr May Jun Jul Forecast $1.76 1.61 1.73 1.88 1.93 Apr May Jun Jul $1.70 1.69 1.79 1.90 This exercise contains only parts a, b, and c. a) Using a 2-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places): Price Per Chip $2.00 $1.70 $1.70 $1.55 $1.50 $1.75 b) Using a 3-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places): Aug Sep Oct Nov Dec 1.88 1.80 1.65 1.58 1.95 Aug Sep Oct Nov Dec 1.98 1.85 1.70 1.63 1.53 c) The mean absolute deviation based on a 2-month moving average of March through December is $ 0.168 (round your response to three decimal places). The mean absolute deviation based on a 3-month moving average of April through December is $ (round your response to three decimal places).
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