Clicia Erm | 2/26/18 9:35 MM305 Business Statistics and Quantitative Analysis Ti

Question

Clicia Erm | 2/26/18 9:35 MM305 Business Statistics and Quantitative Analysis Time Limit: 02:00:00 Submit Quiz: Unit 8 Lab Quiz | 1015(o complete) This Quiz: 25 pts po This Question: 5 pts The following table shows the actual demand observed over the last 11 years Year 1 2 3 45 6 7 8 9 10 11 Demand | 6 | 9 | 4 | 9|11 | 7 | 11 | 13 | 9 | 1317 a) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place) 10 orecast b) Usino the 3-year weighted moving aversge with wesigns 0 15,0 35 and 0 50. uning o so for the most recent peñod, provide the forecast trom periods 4 through 12 (round your responses to two decimal 10 orecast )More Click to select your ans er(s) Type here to search DOLL

Explanation / Answer

(a) The demand forecast using 3-yr moving average is given as Ft = (Ft-1 + Ft-2 + Ft-3)/3

Using the above formula, the forecast for the periods 4 to 12 is given as:

(b) The demand forecast using the 3-year weighted moving average is given as:

Ft = 0.15 x Ft-1 + 0.35 x Ft-2 + 0.50 x Ft-3

Using the above formula, the forecast for the periods 4 to 12 is given as:

Year 4 5 6 7 8 9 10 11 12 Forecast 6.33 7.33 8.00 9.00 9.67 10.33 11.00 11.67 9.67

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