3,000 3.950 3,850 3,700 a) Using a 2 year moving average, the forecast for year

Question

3,000 3.950 3,850 3,700 a) Using a 2 year moving average, the forecast for year 6 = 3775 miles (round your response to the nearest whole n mber b) If a 2 year moving average is used to make the forecast, the MAD based on this 58 3 mies (round your response to one decimal place) (Hint c The forecast for year 6 using a weighted 2 year mong average with weights of 0 40 and 0 60e weight of 060lSfor the most recent pend) You will have only 3 years of Om k smund your response to the nearest whole number) The MAD for the forecast developed using a weighted 2-year moving average with weights of 0 40 and 0 60miles (round your response to one deomal place) tY have only 3 years of matched data)

Explanation / Answer

Answer 1:- Year Milage 1 3000 2 3950 3 3500 4 3850 5 3700 Two year movig average, forecast for the 6th year=(3850+3700)/2 3775 Answer 2:- Year Milage 2 year moving Avg Forecast Error Absolute 1 3000 2 3950 3 3500 3475 -25 25 4 3850 3725 -125 125 5 3700 3675 -25 25 MAD = Sum(A-F)/n MAD= (25+125+25)/3 58.3333333 Answer 3:- Weighted moving average:- Forecastt for 6th year = (3700*0.55 +3850*0.45) 3767.5 3768

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