Plot these forecasts AND the original demand data on graph paper or spreadsheet. Use a key to distinguish among your three lines. Please use the graph in the attached picture for the answer.
Plot these forecasts AND the original demand data on graph paper or spreadsheet. Use a key to distinguish among your three lines. Please use the graph in the attached picture for the answer.
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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Question
-
Plot these
forecasts AND the original demand data on graph paper or spreadsheet. Use a key to distinguish among your three lines.
Please use the graph in the attached picture for the answer.
Transcribed Image Text:#1 - Average Forecast: 3 Month Moving Average
#2-Average Forecast: 5 Month Moving Average
Ft
3 Month
Forecast
At
Ft
At
5 Month
Moving Avg
Forecast
Cumulative
Forecast Error
Forecast
Cumulative
Dt
Demand
3 Month
Moving Avg
Dt
5 Month
Forecast
Period
Error
Forecast Error
Period Demand
Error
1300
1
1300
1100
2
1100
3
900
3
900
1600
1100.0
1100.0
500.0
1600
1200.0
1200.0
300.0
766.7
1500
1500
1280.0
1333,3
1733.3
2100
1333.3
6
2100
1280.0
820.0
2400
1733.3
666.7
2400
1440.0
1440.0
960.0
2000.0
1700.0
2000.0
2166.7
8
2000
0.0
8
2000
1700.0
300.0
9
2900
2166.7
..
733.3
9
2900
1920.0
1920.0
............
980.0
3200
3700
10
2433.3
2433.3
766.7
10
3200
2180.0
2180.0
1020.0
11
2700.0
2700.0
1000.0
11
3700
2520.0
2520.0
1180.0
12
2400
1600
3266.7
-866.7
2840.0
........*i
2840.0
3266.7
12
2400
440.0
......
13
3100.0
3100.0
-1500.0
13
1600
2840.0
2840.0
-1240.0
800.0
1000
1820.0
14
1000
2566.7
2566.7
-1566.7
14
2760.0
2760.0
-1760.0
Time-series data
Don't forget to chart the demand data
120
110
100
90
80
70
- 3-Period Moving Average
60
---5-Period Moving Average
50
40
30
20
1 2 3
4 5 6 7 8
10 11 12 13 14
Time period
Demand
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