Question: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the followingtable: Year 1 2 3 4

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the followingtable: Year 1 2 3 4 5 6 7 8 9 10 11 Registrations (000) 4.00 6.00 4.00 5.00 10.00 8.00 7.00 9.00 12.00 14.00 15.00 a) develop a 3-year moving average to forecast registrations from year 4 to year12. b) estimate demand again for years 4 to 12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1. c)graph the original data and the two forecasts, which of the two forecasting methods seem better?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!