(Forecasting) You have the following data for the last 12 months’ sales for the
ID: 2494405 • Letter: #
Question
(Forecasting) You have the following data for the last 12 months’ sales for the PRQ Corporation (in $1000s):
Monthly Sales:
January 500
February 520
March 520
April 510
May 530
June 580
July 610
August 620
September 580
October 550
November 510
December 480
a. Calculate a 3-month centered moving average.
b. Use this moving average to forecast sales for January of next year.
c. If you were asked to forecast January and February sales for next year, would you be confident of your forecast using the preceding moving average? Why or why not? please include the explaination if you can
Explanation / Answer
3 month centered average is 572
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