on Park Avenue and 34 C) The New York City street for a violation called Blockin

Question

on Park Avenue and 34 C) The New York City street for a violation called Blocking the Box". (if you or a violation Calrolicge Department is issuing tickets that intersection.) se aled Blocking the Box" (If you don't know what that is, then observe the behavior of the taxi drivers at They are trying to decide their how many traffic police week of Feb. 19. They will base their decision on how m to station at this intersection for the any tickets they forecast to give out that t week. Their forecast is based upon a 3-week weighted moving egms or02, 0.3, and 0.5, using 0.5 for the most recent week. How mns ckets do they forecast to give out during the week of Feb. 19? Show your calculations. Week of 8-Jan Tickets Issued 321 340 15-Jan 22-Jan 29-Jan 375 380 5-Feb 12-Feb 410 360 er box

Explanation / Answer

Using a three period weighted moving average method the forecast for a period is calculated as the sum of the product of the actual value and their respective weights for the previous three periods.

So using the above formula with weight of 0.2,0.3 and 0.5 using 0.5 for the most recent week, forecast for week of February 19 = (0.5x360)+(0.3x410)+(0.2x380)

= 180 + 123 + 76

= 379

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