5-17 Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are
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5-17 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 is best?
Year Demand for Fertilizer
(1,000s of Ba gs)
1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15
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Quantitative Analysis For Management
ISBN: 9789332578692
12th Edition
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna
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