Can you assit me with this problem 3 by showing me the process step by step. I prefer it not be in the form of an excel sheet because it is hard to follow along. Thank you kindly The following table shows the actual demand observed over the last 11 years:Year234781011Demand7104713711148137This exercise contains only parts b, c, and d.b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place).Year46.78101112Forecastc) Using the 3-year weighted moving average with weights 0.15, 0.25, and 0.60, using 0.60 for the most recent period, provide the forecast from periods 4 through12 (round your responses to two decimal places).Year4789101112Forecastd) Mean absolute deviation for the forecast developed using the 3-year moving average is 2.76 and for the 3-year weighted moving average is 3.61. Based on thisinformation, the better forecast is achieved using the weighted moving average approach.

Forecast for Year 4 = (Sum of Demand of Year 3,Year 2, Year 1) / 3 Year 4 5 6 7 8…

The following table shows the actual demand observed over the last 11 years: Year Demand 1 2 7 10 3 4 4 7 11 10 13 7 5 6 7 9 13 7 11 14 8 This exercise contains only parts b, c, and d. ) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). 4 5 6 7 8 9 Year 10 11 12 Forecast :) Using the 3-year weighted moving average with weights 0.15, 0.25, and 0.60, using 0.60 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). Year 10 12 co

The following table shows the actual demand observed over the last 11 years: Year Demand 1 2 7 10 3 4 4 7 11 10 13 7 5 6 7 9 13 7 11 14 8 This exercise contains only parts b, c, and d. ) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). 4 5 6 7 8 9 Year 10 11 12 Forecast :) Using the 3-year weighted moving average with weights 0.15, 0.25, and 0.60, using 0.60 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). Year 10 12 co

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

Can you assit me with this problem 3 by showing me the process step by step. I prefer it not be in the form of an excel sheet because it is hard to follow along. Thank you kindly

The following table shows the actual demand observed over the last 11 years:
Year
2
3
4
7
8
10
11
Demand
7
10
4
7
13
7
11
14
8
13
7
This exercise contains only parts b, c, and d.
b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place).
Year
4
6.
7
8
10
11
12
Forecast
c) Using the 3-year weighted moving average with weights 0.15, 0.25, and 0.60, using 0.60 for the most recent period, provide the forecast from periods 4 through
12 (round your responses to two decimal places).
Year
4
7
8
9
10
11
12
Forecast
d) Mean absolute deviation for the forecast developed using the 3-year moving average is 2.76 and for the 3-year weighted moving average is 3.61. Based on this
information, the better forecast is achieved using the weighted moving average approach.

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