The following table shows the actual demand observed over the last 11 years: year 1 2 3 4 5 6 7 8 9 10 11 demand 8 9 4 10 12 8 13 14 8 11 7 b) Using the 3 year moving average, provide the forecasts from periods 4 through 12 (round your responses to one decimal place) Year 4 5 6 7 8 9 10 11 12 forecast [_] [_] [_] [_] [_] [_] [_] [_] [_]
The following table shows the actual demand observed over the last 11 years: year 1 2 3 4 5 6 7 8 9 10 11 demand 8 9 4 10 12 8 13 14 8 11 7 b) Using the 3 year moving average, provide the forecasts from periods 4 through 12 (round your responses to one decimal place) Year 4 5 6 7 8 9 10 11 12 forecast [_] [_] [_] [_] [_] [_] [_] [_] [_]
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
The following table shows the actual demand observed over the last 11 years:
year 1 2 3 4 5 6 7 8 9 10 11
demand 8 9 4 10 12 8 13 14 8 11 7
b) Using the 3 year moving average, provide the forecasts from periods 4 through 12 (round your responses to one decimal place)
Year 4 5 6 7 8 9 10 11 12
forecast [_] [_] [_] [_] [_] [_] [_] [_] [_]
Expert Solution
Step 1
We can calculate a three-year forecast by using the formula-
Three-year moving average method ( Year 4) = (Demand for year 1 + Demand for year 2 + Demand for year 3) / 3
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