Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown

Question:

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: 6 7 8 9 10 11 Year 1 2 3 4 5 45 10 8 79 12 14 15 Registrations 4 6.

(000)

a) Develop a 3-year moving average to forecast registrations from year 4 to year 12.

b) Estimate demand again for years 4 to 12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1.

c) Graph the original data and the two forecasts. Which of the two forecasting methods seems better? P

Step by Step Answer:

Related Book For  book-img-for-question

Operations Management

ISBN: 9780135111437

10th Edition

Authors: Jay Heizer, Barry Render

Question Posted: