1. What is the forecast for week 101 using last period demand? 2. What is the forecast for week 101 using simple average? 3. What is the forecast for week 101 using 5-week moving average?
1. What is the forecast for week 101 using last period demand? 2. What is the forecast for week 101 using simple average? 3. What is the forecast for week 101 using 5-week moving average?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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1. What is the forecast for week 101 using last period demand?
2. What is the forecast for week 101 using simple average?
3. What is the forecast for week 101 using 5-week moving average?
4. What is the forecast for week 101 using linear regression?
5. Which method do you think is best in this instance and why? (I leave this open to you how you approach this
answer. You can, for example, calculate and compare forecast accuracy, graph the demand and interpret the
pattem, or simply provide a compelling arguement for one method over the others.)
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