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Using a 3 period moving average, what is the forecast for day 8?

Using a 3 period moving average, what is the forecast for day 8?

Practical Management Science
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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Daily demand for sandwiches at a local deli is shown in the table. Using a 3 period moving average, what is the forecast for day 8?

Group of answer choices
a. 41.7
b. 45
c. 42.35
d. 43
e. Impossible to determine
SANDWICH DEMAND Day Demand 39 2 33 3 26 4 39 46 47 7 36
Transcribed Image Text:SANDWICH DEMAND Day Demand 39 2 33 3 26 4 39 46 47 7 36
Expert Solution
Step 1

3 period moving average is a forecasting model which helps to identify the forecast as the average of previous three period. Based on the given information, we can identify the forecasting demand of day 8 as like given below. 

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