i. Differentiate between independent and dependent variable in forecasting. ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. Table 2 Week Sales 1 25 2 30 3 27 4 31 5 27 6 29 7 30 8 a. Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest weight). (Round all forecasts to the nearest whole unit.) b. Calculate the MAD for this forecast. c. What does the MAD indicate?

i. Differentiate between independent and dependent variable in forecasting. ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. Table 2 Week Sales 1 25 2 30 3 27 4 31 5 27 6 29 7 30 8 a. Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest weight). (Round all forecasts to the nearest whole unit.) b. Calculate the MAD for this forecast. c. What does the MAD indicate?

Contemporary Marketing

18th Edition

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Louis E. Boone, David L. Kurtz

Chapter14: Pricing Strategies

Section14.2: Forecasting Demand

Problem 1LO

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i. Differentiate between independent and dependent variable in forecasting. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. ii. Table 2 Week Sales 1 25 2 30 3 27 4 31 5 27 29 7 30 8 Use a three-period weighted-moving average forecast to determine a forecast а.
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