Answered step by step
Verified Expert Solution
Question
1 Approved Answer
YEAR DEMAND FOR FERTILIZER (1000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12
YEAR | DEMAND FOR FERTILIZER (1000S OF BAGS) |
1 | 4 |
2 | 6 |
3 | 4 |
4 | 5 |
5 | 10 |
6 | 8 |
7 | 7 |
8 | 9 |
9 | 12 |
10 | 14 |
11 | 15 |
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the table attached. Develop a 3-year moving average to forecast sales. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1.
| ||||||
B. The Mean Absolute Deviation (MAD) for the above moving average forecast is . (Please round it to two decimal points.) | ||||||
| ||||||
| ||||||
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started