The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 6 8 4 7 11 7 13 12 10 13 8 This exercise contains only parts b, c, and d. Part 2 b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Part 3 c) Using the 3-year weighted moving average with weights 0.10, 0.30, and 0.60, using 0.60 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). Part 4 d) Mean absolute deviation for the forecast developed using the 3-year moving average is 2.26 and for the 3-year weighted moving average is 2.78. Based on this information, the better forecast is achieved using the ▼ 3-year moving average weighted moving average approach.
The following table shows the actual demand observed over the last 11 years:
|
Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
|
Demand |
6 |
8 |
4 |
7 |
11 |
7 |
13 |
12 |
10 |
13 |
8 |
This exercise contains only parts b, c, and d.
Part 2
b) Using the 3-year moving average, provide the
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Part 3
c) Using the 3-year weighted moving average with weights
0.10,
0.30, and
0.60, using
0.60 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places).
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Part 4
d) Mean absolute deviation for the forecast developed using the 3-year moving average is
2.26 and for the 3-year weighted moving average is
2.78. Based on this information, the better forecast is achieved using the
▼
3-year moving average
weighted moving average
approach.
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