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:
YEAR 1 2 3 4 5 6 7 8 9 10 11 REGISTRATIONS (000) 4 6 4 5 10 8 7 9 12 14 15
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?
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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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