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Assume that the demand for sugar in ArbaMinch town for the last five years hasbeen observed as follows in quintals peryear. Year Demand 2008 20,500
- Assume that the demand for sugar in ArbaMinch town for the last five years hasbeen observed as follows in quintals peryear.
Year | Demand |
2008 | 20,500 |
2009 | 26,600 |
2010 | 31,300 |
2011 | 33,000 |
2012 | 35,100 |
Required
- Forecast the demand for the 2013 using simple moving average of the recent four years(2. Pt)
- Assume a weight of 0.4 has been assigned for the recent data followed by weights of0.3,
0.2 and 0.1 for the next recent figures. Based on this information, forecast demand for the year 2013 using weighted moving average method (2.Pt)
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