Forecasts based on averages. Given the following data: Prepare a forecast for period 6 using each of
Question:
Forecasts based on averages. Given the following data:
Prepare a forecast for period 6 using each of these approaches:
a. The appropriate naive approach.
b. A three-period moving average.
c. A weighted average using weights of .50 (most recent), .30, and .20.
d. Exponential smoothing with a smoothing constant of .40.
Transcribed Image Text:
Period 1 2 3 4 5 Number of Complaints 60 65 55 58 64
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Step by step a Plot the data to see if there is a pattern Here we have only variations around an ...View the full answer
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