supply chain forecasting

timer Asked: Sep 25th, 2014

Question description

Mar  Apr  May  Jun  Jul  Aug

Units Sold  2460  2790  2580  2910  3150  2890

Given these sales figures over the last 6 months, your boss needs you to create a forecast model that can be used for the next 6 months.  Use three different forecasting methods (last period, 2 period moving average and 3 period moving average) to determine which forecasting method would be best to forecast sales for the next 6 months.  For your measure of “best”, recommend to your boss the method with the lowest mean absolute deviation (MAD).

a)  Calculate the MAD for each of the 3 forecasts (6 points).

b)  Provide your September forecast (2 points).

Tutor Answer

(Top Tutor) Studypool Tutor
School: UC Berkeley
Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors