The following table shows the actual demand observed over the last 11 years: Yea

Question

The following table shows the actual demand observed over the last 11 years: Year 1 23 4 567 8 9 10 11 Demand 6 9 49 11 7 11 13 9 13 7 a) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Year 12 Forecast b) Using the 3-year weighted moving average with weights 0.15. 0.3ad 050, using 0.50 for the most recent period. provide the forecast from periods 4 through 12 (round your responses to two decimal places). Year 10 Forecast c) Mean absolute deviation for the forecast developed using the 3-year moving average is 2.59 and for the 3-year weighted moving average is 2.99 Based on this information, the better forecast is achieved using the following approach

Explanation / Answer

a). Year 4 5 6 7 8 9 10 11 12

Forecast 6.3 7.3 8.0 9.0 9.7 10.3 11.0 11.7 9.7

b). Year 4 5 6 7 8 9 10 11 12

Forecast 6.05 7.25 9.25 8.7 9.6 11.4 10.7 11.6 9.4

c). 3-year moving average

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