Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown
Question:
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table. Develop a 3-year moving average to forecast sales. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1. Which method do you think isbest?
Transcribed Image Text:
DEMAND FOR FERTILIZER (1,000S OF BAGS) YEAR 10 12 14 15 10
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MAD for 3year average 20368 255 MAD for weighted 3year ave...View the full answer
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Sushant Mukhija
Being a part of the industry for over 3 years after my bachelor from IIT Kanpur in 2017, I come with the perks of having real-time inputs of a lot of things.
I have been a mentor/tutor at LinkedIn and Walmart Labs. I exactly know what the industry needs from candidates and thereby, can help them accordingly.
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I would like to be a "3 am a friend" to my students. I would try to be available at any possible time and help my them out in any vertical he asks for, to the best of my knowledge.
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Related Book For
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
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