Week Demand of beef 1 500 2 550 3 600 4 720 5 780 6 800 Corresponding weights are W1=0.6, W2=0.4 and W3=0.3 The 3-week weighted moving average to forecast- Week Demand of beef 3- weeks weighted moving average forecast 1 500 2 550 3 600 4 720 (500×0.6+550×0.4+600×0.3) / (0.6+0.4+0.3) = 538.46 5 780 (550×0.6+600×0.4+720×0.3) / (0.6+0.4+0.3) = 604.61 (600×0.6+720×0.4+780×0.3) / (0.6+0.4+0.3) = 678.46 Forecast for week 4,5 and 6 = 538.46, 604.61 and 678.46 4-week weighted moving average to forecast- Corresponding weights are W1=0.6, W2=0.4, W3=0.3, and W4=0.2 Week Demand of beef 4-weeks weighted moving average forecast 1 500 2 550 3 600 4 720 5 780 (500×0.6+550×0.4+600×0.3+720×0.2) / (0.6+0.4+0.3+0.2) = 562.66 (550×0.6+600×0.4+720×0.3+780×0.2) / (0.6+0.4+0.3+0.2) = 628 Forecast for week 6 and 7 = 562.66, 628 Show how Mr. Ferdinand can test the accuracy of his forecast
Week Demand of beef 1 500 2 550 3 600 4 720 5 780 6 800 Corresponding weights are W1=0.6, W2=0.4 and W3=0.3 The 3-week weighted moving average to forecast- Week Demand of beef 3- weeks weighted moving average forecast 1 500 2 550 3 600 4 720 (500×0.6+550×0.4+600×0.3) / (0.6+0.4+0.3) = 538.46 5 780 (550×0.6+600×0.4+720×0.3) / (0.6+0.4+0.3) = 604.61 (600×0.6+720×0.4+780×0.3) / (0.6+0.4+0.3) = 678.46 Forecast for week 4,5 and 6 = 538.46, 604.61 and 678.46 4-week weighted moving average to forecast- Corresponding weights are W1=0.6, W2=0.4, W3=0.3, and W4=0.2 Week Demand of beef 4-weeks weighted moving average forecast 1 500 2 550 3 600 4 720 5 780 (500×0.6+550×0.4+600×0.3+720×0.2) / (0.6+0.4+0.3+0.2) = 562.66 (550×0.6+600×0.4+720×0.3+780×0.2) / (0.6+0.4+0.3+0.2) = 628 Forecast for week 6 and 7 = 562.66, 628 Show how Mr. Ferdinand can test the accuracy of his forecast
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...
Related questions
Question
|
Week |
Demand of beef |
|
1 |
500 |
|
2 |
550 |
|
3 |
600 |
|
4 |
720 |
|
5 |
780 |
|
6 |
800 |
Corresponding weights are W1=0.6, W2=0.4 and W3=0.3
The 3-week weighted moving average to
|
Week |
Demand of beef |
3- weeks weighted moving average forecast |
|
1 |
500 |
|
|
2 |
550 |
|
|
3 |
600 |
|
|
4 |
720 |
(500×0.6+550×0.4+600×0.3) / (0.6+0.4+0.3) = 538.46 |
|
5 |
780 |
(550×0.6+600×0.4+720×0.3) / (0.6+0.4+0.3) = 604.61 |
|
(600×0.6+720×0.4+780×0.3) / (0.6+0.4+0.3) = 678.46 |
Forecast for week 4,5 and 6 = 538.46, 604.61 and 678.46
4-week weighted moving average to forecast-
Corresponding weights are W1=0.6, W2=0.4, W3=0.3, and W4=0.2
|
Week |
Demand of beef |
4-weeks weighted moving average forecast |
|
1 |
500 |
|
|
2 |
550 |
|
|
3 |
600 |
|
|
4 |
720 |
|
|
5 |
780 |
(500×0.6+550×0.4+600×0.3+720×0.2) / (0.6+0.4+0.3+0.2) = 562.66 |
|
(550×0.6+600×0.4+720×0.3+780×0.2) / (0.6+0.4+0.3+0.2) = 628 |
Forecast for week 6 and 7 = 562.66, 628
- Show how Mr. Ferdinand can test the accuracy of his forecast
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