Actual demand for a product for the past three months was: Three months ago Two months ago 400 units 350 units 320 units Last month a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whol Forecast for this month 357 units ɔ. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month m average? (Round your answer to the nearest whole number.)

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Actual demand for a product for the past three months was:
Three months ago
Two months ago
400 units
350 units
Last month
320 units
a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whole number.)
Forecast for this month
357 units
b. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month moving
average? (Round your answer to the nearest whole number.)
Forecast for the next month
units
c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three
months ago was 450 units and the smoothing constant was 0.30? (Round your answer to the nearest whole number.)
Forecast for this month
units
Transcribed Image Text:Actual demand for a product for the past three months was: Three months ago Two months ago 400 units 350 units Last month 320 units a. Using a simple three-month moving average, make a forecast for this month. (Round your answer to the nearest whole number.) Forecast for this month 357 units b. If 290 units were actually demanded this month, what would your forecast be for next month, again using a 3-month moving average? (Round your answer to the nearest whole number.) Forecast for the next month units c. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.30? (Round your answer to the nearest whole number.) Forecast for this month units
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