Question
1. Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average
1. Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average forecasting methods to see which one was better over this period.
Month | Actual Demand |
Jan | 120 |
Feb | 140 |
March | 160 |
April | 180 |
May | 170 |
June | 190 |
July | 150 |
August | 160 |
September | 170 |
a. Forecast April through September using a three-month moving average and calculate MAD for the forecasts.
b.Forecast May through September using a four-month moving average and calculate MAD for the forecasts.
(Please provide detailed steps of your solution for part a and b.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started