Quiz: Quiz 3 Ths G 7 of 15 (0 complete) Lenovo uses the ZX-81 chip in some of it
ID: 325988 • Letter: Q
Question
Quiz: Quiz 3 Ths G 7 of 15 (0 complete) Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 4 months were as follows January February March Price Per Chip $1.85 $1.68 $1.64 $1.83 This exercise contains only parts a, b, and c. o) Using a 2-month moving average, calculate the forecast for March and April (round your responses to two decimal places) Month Mar Apr Forecast S b) Using a 3-month moving average, calculate the forecast for April. The forecast for April is(round your resporise to two decimal places). c) Calculate the mean absolute deviation based on a 2-month average. Enter your answer in each of the answer boxes.Explanation / Answer
a) Fore cast for march = Average( Actual of Jan, Actual of Feb) = (1.85 + 1.68)/2 = 1.765
Fore cast for April = Average( Actual of Feb, Actual of Mar) = (1.64+ 1.68)/2 = 1.66
b) Fore cast for April = Average( Actual of Jan, Actual of Feb, Actual of Mar) = (1.85+ 1.68+1.64)/3 = 1.723
C) Mean Absolute deviation
Absoute deviation of March = Absolute (Actual March - Forecast of March) = Absolute (1.68 - 1.765) = 0.085
Absoute deviation of April = Absolute (Actual April - Forecast of April) = Absolute (1.83 - 1.723) = 0.107
Mean Absolute Deviation = (0.085+0.107)/2 = 0.096
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