12. The simple moving average forecast is: a. generated by averaging the most re

Question

12. The simple moving average forecast is: a. generated by averaging the most recent p values in a time series;, while p-period. b. generated by averaging all p values in a time series; while p-period. c. the average absolute forecasting error per period of historical data. d. generated by smoothing the following years' data. 13. In weighted moving average method more recent data are given less weight in computing a forecast. a. True b. False 14. Exponential smoothing adjusts: a. the average absolute forecasting error per period of the most recent data. he previous period's forecasting error. c. the residuals between the actual and predicted values. d. none of the above 15. The forecasting with regression analysis does perform well with data that are changing or contain trend or seasonal pattern. a. True b. False

Explanation / Answer

12. the simple moving average forecast is the mean of the demand for the past n periods

13 most recent data is assigned the highest weight factor. FALSE

14. Exponential smoothing adjusts the previous forecast with a portion of the previous period's forecasting error.

use prior month to find next month
=(smoothing # X Month Actual) +(Damping # X Month Forecast)
EX: May= (.3 April Actual) + (.7 April Forecast)

15 Seasonal variation can be estimated by the use of dummy variables in linear regression analysis.

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