The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 6. 7 8 10 11 Demand 7 10 4 7 11 8. 12 12 8. 13 8. This exercise contains only parts b, c, and d. b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Year 4 7 10 11 12 Forecast 7 7 7.3 8.6 10.3 10.7 10.7 11 9.6 c) Using the 3-year weighted moving average with weights 0.20, 0.35, and 0.45, using 0.45 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). Year 4 6. 7 10 11 12 Forecast
The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 6. 7 8 10 11 Demand 7 10 4 7 11 8. 12 12 8. 13 8. This exercise contains only parts b, c, and d. b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Year 4 7 10 11 12 Forecast 7 7 7.3 8.6 10.3 10.7 10.7 11 9.6 c) Using the 3-year weighted moving average with weights 0.20, 0.35, and 0.45, using 0.45 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). Year 4 6. 7 10 11 12 Forecast
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
Marketing
Marketing
ISBN:
9780357033791
Author:
Pride, William M
Publisher:
South Western Educational Publishing
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
Marketing
Marketing
ISBN:
9780357033791
Author:
Pride, William M
Publisher:
South Western Educational Publishing