Question 2 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. 1. 11. Table 2 Week Sales 1 25 30 3 27 4. 31 27 29 7. 30 a. Use a three-period weighted-moving average forecast to determine a forecas 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?
Question 2 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. 1. 11. Table 2 Week Sales 1 25 30 3 27 4. 31 27 29 7. 30 a. Use a three-period weighted-moving average forecast to determine a forecas 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
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...
Related questions
Question
Please solve the question in the picture.
![Question 2
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.
1.
11.
Table 2
Week
Sales
25
30
27
31
27
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?
23456700](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa03c853f-dd97-4521-b4c6-bf3529bbf06e%2F735d339b-1954-427d-934d-e71fe0049bf1%2Fzyi637n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 2
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.
1.
11.
Table 2
Week
Sales
25
30
27
31
27
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?
23456700
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Practical Management Science](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
![Operations Management](https://www.bartleby.com/isbn_cover_images/9781259667473/9781259667473_smallCoverImage.gif)
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
![Operations and Supply Chain Management (Mcgraw-hi…](https://www.bartleby.com/isbn_cover_images/9781259666100/9781259666100_smallCoverImage.gif)
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
![Practical Management Science](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
![Operations Management](https://www.bartleby.com/isbn_cover_images/9781259667473/9781259667473_smallCoverImage.gif)
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
![Operations and Supply Chain Management (Mcgraw-hi…](https://www.bartleby.com/isbn_cover_images/9781259666100/9781259666100_smallCoverImage.gif)
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
![Business in Action](https://www.bartleby.com/isbn_cover_images/9780135198100/9780135198100_smallCoverImage.gif)
![Purchasing and Supply Chain Management](https://www.bartleby.com/isbn_cover_images/9781285869681/9781285869681_smallCoverImage.gif)
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
![Production and Operations Analysis, Seventh Editi…](https://www.bartleby.com/isbn_cover_images/9781478623069/9781478623069_smallCoverImage.gif)
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.