b) The forecast for the next month (Jan) using the naive method= 22 sales (round your response to a whole number). The forecast for the next period (Jan) using a 3-month moving average approach = 20.67 sales (round your response to two decimal places). The forecast for the next period (Jan) using a 6-month weighted average with weights of 0.10, 0.10, 0.10, 0.20, 0.20, and 0.30, where the heaviest weights are applied to the most recent month = sales (round your response to one decimal place).
b) The forecast for the next month (Jan) using the naive method= 22 sales (round your response to a whole number). The forecast for the next period (Jan) using a 3-month moving average approach = 20.67 sales (round your response to two decimal places). The forecast for the next period (Jan) using a 6-month weighted average with weights of 0.10, 0.10, 0.10, 0.20, 0.20, and 0.30, where the heaviest weights are applied to the most recent month = sales (round your response to one decimal place).
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
Related questions
Question
![The monthly sales for Yazici Batteries, Inc., were as follows:
Month
Sales
Jan
19
Feb Mar
17
21
Apr May
Jun Jul Aug Sept Oct
12 15 18 15 19 20 20
This exercise contains only parts b and c.
b) The forecast for the next month (Jan) using the naive method = 22 sales (round your response to a whole number).
Nov Dec
20 22
The forecast for the next period (Jan) using a 3-month moving average approach = 20.67 sales (round your response to two decimal places).
The forecast for the next period (Jan) using a 6-month weighted average with weights of 0.10, 0.10, 0.10, 0.20, 0.20, and 0.30, where the heaviest weights are applied to the most
recent month = sales (round your response to one decimal place).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0a63f6a7-ec54-4c0e-abf5-810ded572838%2Ffea71585-383f-4c35-86c3-7e4de25ef026%2Fvl0apk_processed.png&w=3840&q=75)
Transcribed Image Text:The monthly sales for Yazici Batteries, Inc., were as follows:
Month
Sales
Jan
19
Feb Mar
17
21
Apr May
Jun Jul Aug Sept Oct
12 15 18 15 19 20 20
This exercise contains only parts b and c.
b) The forecast for the next month (Jan) using the naive method = 22 sales (round your response to a whole number).
Nov Dec
20 22
The forecast for the next period (Jan) using a 3-month moving average approach = 20.67 sales (round your response to two decimal places).
The forecast for the next period (Jan) using a 6-month weighted average with weights of 0.10, 0.10, 0.10, 0.20, 0.20, and 0.30, where the heaviest weights are applied to the most
recent month = sales (round your response to one decimal place).
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