The following table shows the actual demand observed over the last 11 years: Year Demand 1 8 2 10 3 6 Year Forecast Year 4 5 6 Forecast 8 7.7 8.7 4 7 4 5 5 13 6 6 7 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). 7 9 7 7 12 8 13 c) Using the 3-year weighted moving average with weights 0.15, 0.30, and 0.55, using 0.55 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). 8 8 9 10 11 10.7 10.7 11.3 11 9 9 9 10 10 11 11 12 9.3 11 8 12
The following table shows the actual demand observed over the last 11 years: Year Demand 1 8 2 10 3 6 Year Forecast Year 4 5 6 Forecast 8 7.7 8.7 4 7 4 5 5 13 6 6 7 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). 7 9 7 7 12 8 13 c) Using the 3-year weighted moving average with weights 0.15, 0.30, and 0.55, using 0.55 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). 8 8 9 10 11 10.7 10.7 11.3 11 9 9 9 10 10 11 11 12 9.3 11 8 12
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
Y5
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
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