MonthJanFebMarAprAnswer:DemandUsing a 3-month weighted moving average forecasting method with weightsof 50% for the most recent demand, 30% for demand from 2 periods before,and 20% from 3 periods back, what is the forecast for May?Answer to 1 decimal place.Check13012310080

First, let me state the given data, MonthDemandJan130Feb123Mar100Apr80I will apply the weighted…

Answered: Using a 3-month weighted moving average…

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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No singal forecast methodology is appropriate under all conditions: True or false?
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Use the sales data in the table ( attached Image) and apply the same forecast method when α = 0.1, 0.2, 0.3, 0.4, 0.5, 0.6, 0.7, 0.8, 0.9, and 1. What is the best value for α? What does the best value of α indicate or show in regards to the forecast model? (Hint: Use Microsoft Excel to solve the question)
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Define and explain the forecasting technique which places more emphasis on recent values and explain how it is done ?

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Using a 3-month weighted moving average forecasting method with weights of 50% for the most recent demand, 30% for demand from 2 periods before, and 20% from 3 periods back, what is the forecast for May? Answer to 1 decimal place.