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

Question

The following table shows the actual demand observed over the last 11 years Year Demand 8 6 10 4 6 This exercise contains only parts b, c, and d b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place) Year 4 6 10 12 Forecast c) Using the 3-year weighted moving average with weights 0.15, 0.25, and 0.60, using 0.60 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places) Year 4 10 12 Forecast d) 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 3.20. Based on this information, the better forecast is achieved using the Vapproach.

Explanation / Answer

B. 3 year moving average for year 4 = (8+8+4) / 3 = 6.6

Year 5 = (8+4+10)/3 = 7.3

Year 6 = (4+10+13)/3 = 9

Year 7 = (10+13+8)/3 = 10.3

Year 8 = (13+8+11)/3 = 10.6

Year 9 = (8+11+13)/3 = 10.6

Year 10 = (11+13+8)/3 = 10.6

Year 11 = (13+8+11)/3 = 10.6

Yeat 12 = (8+11+6)/3 = 8.3

As per Chegg's guideline we are required to do only 4 parts of a question

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