LIUN LI 7/9/18 5:04 PM Homework: Homework Three Save Score: 0 of 1 pt 26 of 26 (

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LIUN LI 7/9/18 5:04 PM Homework: Homework Three Save Score: 0 of 1 pt 26 of 26 (24 complete) ? HW Score: 84.62%, 22 of 26 pts Problem 20 The director of a large public library must schedule employees to reshelf books and periodicals checked out of the library. The number of items checked Question Help out will determine the labor requirements. The following data reflect the number of items checked out of the library for the past three years: Month January February March April May June July August September October November December il2.2742.1892,407 Year 1 1,707 2,674 2,466 2,432 2,492 2,378 2,215 2,445 1,920 1,922 2,447 Year 2 2,030 2,321 2,292 2,088 2,655 2,122 2,206 1,869 2,491 2,291 2,373 Year 3 2,004 2,564 2,636 2,150 2,239 2,663 2,027 1,678 1,799 2,065 2,187 The director needs a time-series method for forecasting the number of items to be checked out during the next month. Suppose that the director considers the best forecast to be the one that minimizes the absolute value of mean bias (E). Find the best simple moving average forecast you can using the director's criteria Using the director's criteria, the best forecast for the next month is items to be checked out. (Enter your response as a whole number) Enter your answer in the answer box and then click Check Answor All parts showing Cloar All Check Answer

Explanation / Answer

he best simple moving average forecast you can using the director's criteria is 4 moving average

Year 2 moving 4 moving 6 moving 12 moving abs value of 2 abs value of 4 abs value of 6 abs value of 12 1707 #N/A #N/A #N/A #N/A 2674 2190.5 #N/A #N/A #N/A 483.5 2466 2570 #N/A #N/A #N/A 863 2432 2449 2319.75 #N/A #N/A 742 612.75 2492 2462 2516 #N/A #N/A 755 809 2378 2435 2442 2358.167 #N/A 728 735 651.1667 2215 2296.5 2379.25 2442.833 #N/A 589.5 672.25 735.8333 2445 2330 2382.5 2404.667 #N/A 623 675.5 697.6667 1920 2182.5 2239.5 2313.667 #N/A 475.5 532.5 606.6667 1922 1921 2125.5 2228.667 #N/A 214 418.5 521.6667 2447 2184.5 2183.5 2221.167 #N/A 477.5 476.5 514.1667 2274 2360.5 2140.75 2203.833 2281 653.5 433.75 496.8333 574 2030 2152 2168.25 2173 2307.917 445 461.25 466 600.9167 2321 2175.5 2268 2152.333 2278.5 468.5 561 445.3333 571.5 2292 2306.5 2229.25 2214.333 2264 599.5 522.25 507.3333 557 2088 2190 2182.75 2242 2235.333 483 475.75 535 528.3333 2655 2371.5 2339 2276.667 2248.917 664.5 632 569.6667 541.9167 2122 2388.5 2289.25 2251.333 2227.583 681.5 582.25 544.3333 520.5833 2206 2164 2267.75 2280.667 2226.833 457 560.75 573.6667 519.8333 1869 2037.5 2213 2205.333 2178.833 330.5 506 498.3333 471.8333 2491 2180 2172 2238.5 2226.417 473 465 531.5 519.4167 2291 2391 2214.25 2272.333 2257.167 684 507.25 565.3333 550.1667 2373 2332 2256 2225.333 2251 625 549 518.3333 544 2189 2281 2336 2236.5 2243.917 574 629 529.5 536.9167 2004 2096.5 2214.25 2202.833 2241.75 389.5 507.25 495.8333 534.75 2564 2284 2282.5 2318.667 2262 577 575.5 611.6667 555 2636 2600 2348.25 2342.833 2290.667 893 641.25 635.8333 583.6667 2150 2393 2338.5 2319.333 2295.833 686 631.5 612.3333 588.8333 2239 2194.5 2397.25 2297 2261.167 487.5 690.25 590 554.1667 2663 2451 2422 2376 2306.25 744 715 669 599.25 2027 2345 2269.75 2379.833 2291.333 638 562.75 672.8333 584.3333 1678 1852.5 2151.75 2232.167 2275.417 145.5 444.75 525.1667 568.4167 1799 1738.5 2041.75 2092.667 2217.75 31.5 334.75 385.6667 510.75 2065 1932 1892.25 2078.5 2198.917 225 185.25 371.5 491.9167 2187 2126 1932.25 2069.833 2183.417 419 225.25 362.8333 476.4167 2407 2297 2114.5 2027.167 2201.583 590 407.5 320.1667 494.5833 Average 540.4571 537.5227 540.6828 543.14

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