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forecast for weeks 7-24 using 6 week weighted moving average

forecast for weeks 7-24 using 6 week weighted moving average

Practical Management Science
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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Weighted moving average using Excel:
3.1 Calculate demand forecast for weeks 7-24 using 6 week weighted moving average with weights 0.55, 0.1, 0.1, 0.1, 0.1, 0.05
3.2 Calculate demand forecast for weeks 7-24 using 6 week weighted moving average with weights 0.2, 0.2, 0.2, 0.15, 0.15, 0.1
3.3 Plot the two weighted moving average forecasts together with the actual demand. Comment on the obtained graph.
3.4 Using the forecasting error measures seen in class, evaluate the forecasting error of each method. Accordingly which method is better?

A clothing company wants to forecast the demand for its main product, based on the data below. Week Sales 1 4000 2 3300 3 3220 4 2880 5 6 17 3000 2980 3100 8 2460 9. 2775 10 2745 11 2880 12 2865 13 2835 14 15 2700 2080 16 2016 17 2000 18 2010 19 1800 20 21 22 1760 1770 1540 23 1600 24 1300
Transcribed Image Text:A clothing company wants to forecast the demand for its main product, based on the data below. Week Sales 1 4000 2 3300 3 3220 4 2880 5 6 17 3000 2980 3100 8 2460 9. 2775 10 2745 11 2880 12 2865 13 2835 14 15 2700 2080 16 2016 17 2000 18 2010 19 1800 20 21 22 1760 1770 1540 23 1600 24 1300
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