a) Plot the above data on a graph. Do you observe any trend, cycles, or random variations?
Question:
a) Plot the above data on a graph. Do you observe any trend, cycles, or random variations?
b) Starting in year 4 and going to year 12, forecast demand using a 3-year moving average. Plot your forecast on the same graph as the original data.
c) Starting in year 4 and going to year 12, forecast demand using a 3-year moving average with weights of .1, .3, and .6, using .6 for the most recent year. Plot this forecast on the same graph.
d) As you compare forecasts with the original data, which seems to give the better results? (MyLab Operations Management also includes a shorter (brief) version of this problem.)+
Step by Step Answer:
Related Book For
Operations Management Sustainability And Supply Chain Management
ISBN: 9781292295039
13th Global Edition
Authors: Jay Heizer, Barry Render, Chuck Munson
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