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Q3 (a) Demand data for an interior decoration contractor is recorded in Table 3. Forecast the demand for month of October using the methods described by i-iv. (i) Naive. (ii) 3-period simple moving average. (iii) 4-period weighted moving average with weightage value of 0.4, 0.3 and 0.2 (highest value for the most recent period). It is a common understanding that the summation of weight factors shall equal to 1. (iv) Exponential smoothing with a = 0.3. Assume the forecast for month of July is 1600 + 2(L3D). Table 3: Demand Data Jan Feb Mar April May June July Aug Sept 980 1100 1270 1325 1380 1752 2054 2034 2064

Q3 (a) Demand data for an interior decoration contractor is recorded in Table 3. Forecast the demand for month of October using the methods described by i-iv. (i) Naive. (ii) 3-period simple moving average. (iii) 4-period weighted moving average with weightage value of 0.4, 0.3 and 0.2 (highest value for the most recent period). It is a common understanding that the summation of weight factors shall equal to 1. (iv) Exponential smoothing with a = 0.3. Assume the forecast for month of July is 1600 + 2(L3D). Table 3: Demand Data Jan Feb Mar April May June July Aug Sept 980 1100 1270 1325 1380 1752 2054 2034 2064

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Q3 (a) Demand data for an interior decoration contractor is recorded in Table 3. Forecast the demand for month of October using the methods described by i-iv. (i) Naive. (ii) 3-period simple moving average. (iii) 4-period weighted moving average with weightage value of 0.4, 0.3 and 0.2 (highest value for the most recent period). It is a common understanding that the summation of weight factors shall equal to 1. (iv) Exponential smoothing with a = 0.3. Assume the forecast for month of July is 1600 + 2(L3D). Table 3: Demand Data Jan Feb Mar April May June July Aug Sept 980 1100 1270 1325 1380 1752 2054 2034 2064
Transcribed Image Text:Q3 (a) Demand data for an interior decoration contractor is recorded in Table 3. Forecast the demand for month of October using the methods described by i-iv. (i) Naive. (ii) 3-period simple moving average. (iii) 4-period weighted moving average with weightage value of 0.4, 0.3 and 0.2 (highest value for the most recent period). It is a common understanding that the summation of weight factors shall equal to 1. (iv) Exponential smoothing with a = 0.3. Assume the forecast for month of July is 1600 + 2(L3D). Table 3: Demand Data Jan Feb Mar April May June July Aug Sept 980 1100 1270 1325 1380 1752 2054 2034 2064
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