Answered: A. Calculate the three-period moving…

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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Question

Gargash Car Service have repaired the following number of cars from January to May.

Month	Number of cars sold
January	120
February	123
March	145
April	141
May	138

A. Calculate the three-period moving average forecast for the month of June. Show your work.
8. Given the historical data and weights of 0.42, 0.33, and 0.25, calculate three-period weighted moving average forecast for June? Show your work.
C. Calculate the naive forecast for June. Show your work.
D. Would you prefer any of these forecasts above the other? Justify your answer.
E. Suppose that the June's actual sales is 5 percent lower than May's sales. What will the error of your
(preferred) forecast?

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