Moving Average, Weighted Moving Average, and Exponential Smoothing The weekly demand for chicken wings at a local restaurant during the past six weeks has been Week 1 2 3 4 5 6 Demand 650 521 563 735 514 596 a. Forecast the demand for week 7 using a five-period moving average. b. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W1= .5, W2= .3, W3= .2. c. Forecast the demand for week 7 using exponential smoothing. Use an α value of .1 and assume the forecast for week 6 was 600 units. d.What assumptions are made in each of the above forecasts?
Moving Average, Weighted Moving Average, and Exponential Smoothing The weekly demand for chicken wings at a local restaurant during the past six weeks has been Week 1 2 3 4 5 6 Demand 650 521 563 735 514 596 a. Forecast the demand for week 7 using a five-period moving average. b. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W1= .5, W2= .3, W3= .2. c. Forecast the demand for week 7 using exponential smoothing. Use an α value of .1 and assume the forecast for week 6 was 600 units. d.What assumptions are made in each of the above forecasts?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Moving Average, Weighted Moving Average, and Exponential Smoothing
The weekly demand for chicken wings at a local restaurant during the past six weeks has been
Week 1 2 3 4 5 6
Demand 650 521 563 735 514 596
a. Forecast the demand for week 7 using a five-period moving average.
b. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W1= .5, W2= .3, W3= .2.
c. Forecast the demand for week 7 using exponential smoothing. Use an α value of .1 and assume the forecast for week 6 was 600 units.
d.What assumptions are made in each of the above forecasts?
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