Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The last seven weeks of demand at a new car dealer are shown below. Use a three-period weighted-moving average forecast to determine a forecast for

The last seven weeks of demand at a new car dealer are shown below. Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest weight). (Round all forecasts to the nearest whole unit.) Calculate the MAD for this forecast (covering all weeks in which error comparisons can be made). What does the MAD indicate?

Week Sales 1 25 2 30 3 27 4 31 5 27 6 29 7 30

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

Economics Of The Industrial Revolution Internet, Artificial Intelligence And Blockchain

Authors: Nicholas Johnson, Brendan Markey Towler

1st Edition

042977169X, 9780429771699

More Books

Students also viewed these General Management questions

Question

2. Give ample praise for good answers.

Answered: 1 week ago

Question

Draw a picture consisting parts of monocot leaf

Answered: 1 week ago

Question

Always show respect for the other person or persons.

Answered: 1 week ago