(Solved Homework): Your manager is trying to determine what forecasting method to use. Based upon the following…

Don't use plagiarized sources. Get Your Custom Essay on

Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT!

Order Essay

Your manager is trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecast and specify what procedure you would utilize ACTUAL MONTH DEMAND 59 65 67 71 5 10 75 12 81 a. Calculate the simple three-month moving average forecast for periods 4-12. (Round your answers to 3 decimal places.) Moving Average 65.667 67.667 69.333 72.667 74.667 10 76.333 78.333 12 b. Calculate the weighted three-month moving average for periods 4-12 using weights of 0.50 (for the period t-1); 0.30 (for the period f-2), and 0.20 (for the period t-3). (Do not round intermediate calculations. Round your answers to 1 decimal place.) Three-Month Weighted Average 63.8 6 68.6 69.7 73.7 75.6 77.0 76 79.4 10 12

Expert Answer

Answer

Year	Demand	3 Year Moving Average Forecast	Weights for Moving Average	3 years Weighted moving average	Exponential Smoothing	At	Tt	FIT
1	59.00			0	63.000
2	65			0	62.200	62.000	1.600	63.600
3	65			0	62.760	63.000	1.420	64.420
4	67	63.000		63.80	63.208	64.820	1.540	66.360
5	71	65.667		66.00	63.966	66.396	1.551	67.947
6	70	67.667		68.60	65.373	68.068	1.587	69.655
7	77	69.333		69.70	66.298	70.241	1.763	72.004
8	77	72.667		73.70	68.439	71.956	1.749	73.704
9	77	74.667	0.1	75.60	70.151	74.713	2.051	76.764
10	75	77.000	0.3	77.00	71.521	77.222	2.188	79.410
11	83	76.333	0.6	76.00	72.217	79.366	2.175	81.541
12	81	78.333		`	74.373	80.668	1.913	82.581

MAD for Single exponential Smoothing forecast and exponential smoothinh with trend

Year	Demand	Exponential Smoothing with a = 0.20	Error	Absolute Deviation
1	59	63	4	4
2	65	62.2	-2.8	2.8
3	65	62.76	-2.24	2.24
4	67	63.208	-3.792	3.792
5	71	63.9664	-7.0336	7.0336
6	70	65.37312	-4.62688	4.62688
7	77	66.298496	-10.701504	10.701504
8	77	68.4387968	-8.5612032	8.5612032
9	77	70.15103744	-6.84896256	6.84896256
10	75	71.52082995	-3.479170048	3.479170048
11	83	72.21666396	-10.78333604	10.78333604
12	81	74.37333117	-6.626668831	6.626668831
Sum				71.493
MAD				5.958

Year	Demand	Exponential Smoothing with trend	Error	Absolute Deviation
1	59	63.600	4.600	4.600
2	65	64.420	-0.580	0.580
3	65	66.360	1.360	1.360
4	67	67.947	0.947	0.947
5	71	69.655	-1.345	1.345
6	70	72.004	2.004	2.004
7	77	73.704	-3.296	3.296
8	77	76.764	-0.236	0.236
9	77	79.410	2.410	2.410
10	75	81.541	6.541	6.541
11	83	82.581	-0.419	0.419
12	81	85.100	4.100	4.100
Sum				27.838
MAD				2.320

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Type of paper needed:

Pages:

Academic level:

Total price:

$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.