Use the following time-series data to answer the given questions. a. Develop for

Question

Use the following time-series data to answer the given questions.

a. Develop forecasts for periods 5 through 10 using 4-month moving averages.

b. Develop forecasts for periods 5 through 10 using 4-month weighted moving averages. Weight the most recent month by a factor of 4, the previous month by 2, and the other months by 1.

c. Compute the errors of the forecasts in parts (a) and (b) and observe the differences in the errors forecast by the two different techniques.

(Round your answers to 3 decimal places.)


a.

b.

c.

In each time period, the four-month moving average produces

errors of forecast than the four-month weighted moving average.

Time Period Value 1 25 2 31 3 59 4 63 5 60 6 66 7 70 8 86 9 101 10 97

Explanation / Answer

a)

b)

c)

Time Period Value 4-Month Moving Average Forecast 1 25 2 31 3 59 4 63 5 60 44.5 6 66 53.25 7 70 62 8 86 64.75 9 101 70.5 10 97 80.75

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