Question
I am stuck on the formulas for these homework problems. Is moving average always divided by 3? I would appreciate any guidance on these problems
I am stuck on the formulas for these homework problems. Is moving average always divided by 3? I would appreciate any guidance on these problems or even just helping me to set up the formulas.
Moving Average
- Carmella's Pizza wants a 3 month moving average customer forecast for April 2020. It is __172.5 (??? Probably wrong)___
Actual
Customers
December120
January168
February212
March190
April???
Weighted Moving Average
Since the SRU holiday break impacted December & January student visits to the bookstore and the Spring Break impacted March student visits, you have assigned a weight on the most recent 3 month values to compensate for the seasonality fluctuations. They weights are: January = 1, February = 3 and March =2.
April's forecast is _________
Actual
Customers
December120
January168
February212
March190
April???
Exponential Smoothing
Using a smoothing constant chosen by management of = 0.10, the April forecast is _________.
Actual
CustomersForecast
December120110
January168174
February212200
March190175
April???
Mean Absolute Deviation (MAD)
The Via Via Pizza manager wants to test the use of exponential smoothing to see how well the techniques works in predicting customer visits. He guessed that the December visits would total 116 and suggested an exponential smoothing factor of = 0.10.
Absolute
ActualForecastDeviation (Forecast Error)
Customerswith = 0.10for = 0.10
December120116
January168
February212
March190
Sum of Absolute Deviations =??????
MAD = |Actual - Forecast|=??????
n
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