Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average forecasting methods to see which one was better over this period. Month Actual Demand Jan 120 Feb 140 March 160 April 180 May 170 June 190 July 150 August 160 September 170 a. Forecast April through September using a three-month moving average and calculate MAD for the forecasts. b. Forecast May through September using a four-month moving average and calculate MAD for the forecasts
Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average forecasting methods to see which one was better over this period. Month Actual Demand Jan 120 Feb 140 March 160 April 180 May 170 June 190 July 150 August 160 September 170 a. Forecast April through September using a three-month moving average and calculate MAD for the forecasts. b. Forecast May through September using a four-month moving average and calculate MAD for the forecasts
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...
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Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average
Month |
Actual Demand |
Jan |
120 |
Feb |
140 |
March |
160 |
April |
180 |
May |
170 |
June |
190 |
July |
150 |
August |
160 |
September |
170 |
a. Forecast April through September using a three-month moving average and calculate MAD for the forecasts.
b. Forecast May through September using a four-month moving average and calculate MAD for the forecasts.
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