Given is a historical time series for job services demand in the prior 6 months.
ID: 3051532 • Letter: G
Question
Given is a historical time series for job services demand in the prior 6 months.
Month
Demand
1
625
2
734
3
711
4
603
5
668
6
785
Use the table below to answer all questions:
Month
Demand
Forecast
1
625
F1
2
734
F2
3
711
F3
4
603
F4
5
668
F5
6
785
F6
7
F7
If the demands forecast is Not Possible (NP) to generate for a particular month, then you must type in NP as your answer.
a) The F3 by using Naïve forecasting method = ______
b) The F3 by using 2 months moving average =______ (in 2 decimal places)
c) The F4 by using Naïve forecasting method = _______
d) The F4 by using 4 months moving average = _____ (in 2 decimal places)
e) The F6 by using 3 months moving average = _______ (in 2 decimal places)
f) The F7 by using 4 months moving average = ______(in 2 decimal places)
Month
Demand
1
625
2
734
3
711
4
603
5
668
6
785
Explanation / Answer
a)
Naïve
F3= A2=
734
b)
MA(2)
F3 = (A1+A2)/2
=(625+734)/2
679.5
c)
Naïve
F4=A3
711
d)
MA(4)
F4 = ?
NP
e)
MA(3)
F6 = (A3+A4+A5)/3
=(711+603+668)/3
660.67
f)
MA(4)
F7= (A3+A4+A5+A6)/4
=(711+603+668+785)/4
691.75
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