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Question 25, 33,37
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Explanation & Answer
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3-year moving average to forecast sales
DEMAND FOR FERTILIZER (1,000s OF BAGS)
Year
1
2
3
4
5
6
7
8
9
10
11
12
Forecast
4
6
4
5
10
8
7
9
12
14
15
8,5455
Error
4,6667
5,0000
6,3333
7,6667
8,3333
8,0000
9,3333
11,6667
13,6667
0,3333
5,0000
1,6667
-0,6667
0,6667
4,0000
4,6667
3,3333
Forecast Sales for Year 12 will be (13.6667*1000) 13,667 bags of fertilizers
3 period weighted moving average
DEMAND FOR FERTILIZER (1,000s OF BAGS)
Year
1
2
3
4
5
6
7
8
9
10
11
4
6
4
5
10
8
7
9
12
14
15
Year 12 forecasted value
Weights
Forecast
1
1
2
1
1
2
1
1
2
4,5
5
7
7,75
8
8,25
10
12,25
14
The weighted moving average is more accurate than three moving averag...