The table below shows the sales figures for a brand of shoe over the last 12 months. Months Sales January 69 February 75 March 86 April 92 May 95 June 100 July 108 August 115 September 125 October 131 November 140 December 150 a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. [2 marks] ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. [3 marks] iii. Exponential Smoothing when α= .6 and the forecast for March is 350. [5 marks] iv. Determine which of the three forecasting technique is the most accurate using MAD. [4 marks]
The table below shows the sales figures for a brand of shoe over the last 12 months. Months Sales January 69 February 75 March 86 April 92 May 95 June 100 July 108 August 115 September 125 October 131 November 140 December 150 a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. [2 marks] ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. [3 marks] iii. Exponential Smoothing when α= .6 and the forecast for March is 350. [5 marks] iv. Determine which of the three forecasting technique is the most accurate using MAD. [4 marks]
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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QUESTION 1
The table below shows the sales figures for a brand of shoe over the last 12 months. Months Sales January 69 February 75 March 86 April 92 May 95 June 100 July 108 August 115 September 125 October 131 November 140 December 150
a. Using the following, forecast the sales for the months up to January the following year:-
i. A simple three month moving average. [2 marks]
ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. [3 marks]
iii. Exponential Smoothing when α= .6 and the forecast for March is 350. [5 marks]
iv. Determine which of the three
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