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2) Using seasonal relatives. Apple's Citrus Fruit Farm ships boxed fruit anywhere in the world. Using the following information, a manager wants to forecast shipments
2) Using seasonal relatives. Apple's Citrus Fruit Farm ships boxed fruit anywhere in the world. Using the following information, a manager wants to forecast shipments for the first four months of next year. Seasonal Relative Seasonal Relative Month Month Jan. Feb. Mar. Apr. May. Jun. 1.2 1.3 1.3 1.1 0.8 0.7 Jul. Aug. Sep. Oct. Nov. Dec. 0.8 0.6 0.7 1.0 1.1 1.4 The monthly forecast equation being used is: Ft = 402 + 3t where to = January of last year F; = Forecast of shipments for month t 4) Seasonal relatives. Obtain estimates of quarter relatives for these data using the centered moving average method: YEAR 1 2 3 4 3 1 2 3 Quarter: Demand: 1 14 2 18 3 35 4 46 1 28 2 36 4 71 2 54 3 84 4 88 1 58 60 45
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