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ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. Table 2 Week Sales 25 2 3 30 27 31 27 4 29 30 6. 7. 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?

ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. Table 2 Week Sales 25 2 3 30 27 31 27 4 29 30 6. 7. 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?

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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ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. Table 2 Week Sales 25 30 27 4 31 5 27 6 29 30 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?
Transcribed Image Text:ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below. Table 2 Week Sales 25 30 27 4 31 5 27 6 29 30 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?
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