The table below shows the sales figures for a brand of shoe over the last 12 months. Months January February March April May June July Sales 69 75 86 92 95 100 108 115 125 August September October November December a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. iii. Exponential Smoothing when α= .6 and the forecast for March is 350. 131 140 150 iv. Determine which of the three forecasting technique is the most accurate using MAD.
The table below shows the sales figures for a brand of shoe over the last 12 months. Months January February March April May June July Sales 69 75 86 92 95 100 108 115 125 August September October November December a. Using the following, forecast the sales for the months up to January the following year:- i. A simple three month moving average. ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. iii. Exponential Smoothing when α= .6 and the forecast for March is 350. 131 140 150 iv. Determine which of the three forecasting technique is the most accurate using MAD.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Please assist with iv- only
Transcribed Image Text:The table below shows the sales figures for a brand of shoe over the last 12 months.
Months
January
February
Sales
69
75
86
92
95
100
108
115
125
March
April
May
June
July
August
September
October
November
December
a. Using the following, forecast the sales for the months up to January the following year:-
131
140
150
i. A simple three month moving average.
ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the
highest weight to the most recent data.
iii. Exponential Smoothing when a= .6 and the forecast for March is 350.
iv. Determine which of the three forecasting technique is the most accurate using
MAD.
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