Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A manufacturing area needs to forecast the barrels of patroleum distillate that will be used. The data for several months is supplied below. Be careful

image text in transcribed

A manufacturing area needs to forecast the barrels of patroleum distillate that will be used. The data for several months is supplied below. Be careful since the data is listed beginning with the most recent. The forecasting method to be used here is the 3 month moving average after accounting for seasonality. Keep in mind you will need to compute the seasonality factors. Please round your forecast to the nearest whole number. Nov 2019:35 Oct 2019: 34 Sep 2019: 26 Aug 2019: 35 Jul 2019: 27 Jun 2019:28 May 2019: 26 Apr 2019: 28 Mar 2019:32 Feb 2019: 35 Jan 2019:30 Dec 2018: 31 Nov 2018: 25 Oct 2018:33 Sep 2018: 31 Aug 2018: 26 Jul 2018: 34 Jun 2018: 32 May 2018: 28 Apr 2018: 29 Mar 2018: 32 Feb 2018: 26 Jan 2018: 31 Dec 2017: 34 Nov 2017:33 Oct 2017:29 Sep 2017: 25 Aug 2017: 33 Jul 2017: 35 Jun 2017: 34 Please enter your forecast here---> Submit Forecast

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Art and Science of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones

14th Canadian edition

134613112, 134835018, 9780134885254 , 978-0134613116

More Books

Students also viewed these Accounting questions