Introduction to Management Science (12th Edition)
12th Edition
ISBN: 9780133778847
Author: Bernard W. Taylor III
Publisher: PEARSON
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Question
Chapter 15, Problem 1P
a)
Summary Introduction
To determine: A 3-month moving average
a)
Expert Solution
Explanation of Solution
Given information:
Determine a 3-month moving average forecast for April through January:
Formulae to determine the value in the above table:
b)
Summary Introduction
To determine: A 5-month moving average forecast for June through January.
b)
Expert Solution
Explanation of Solution
Given information:
Determine a 5-month moving average forecast for June through January:
Formulae to determine the value in the above table:
c)
Summary Introduction
To determine: The two forecasts using MAD.
c)
Expert Solution
Explanation of Solution
Given information:
Compare two forecasts using MAD:
Formulae to determine the value in the above table:
According to the findings, the dealer should use 3-month forecasts, which has smaller MAD that indicates accurate forecast.
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Chapter 15 Solutions
Introduction to Management Science (12th Edition)
Ch. 15 - Prob. 1PCh. 15 - Prob. 2PCh. 15 - Prob. 5PCh. 15 - Prob. 6PCh. 15 - Prob. 7PCh. 15 - Prob. 8PCh. 15 - Prob. 9PCh. 15 - Prob. 10PCh. 15 - Prob. 11PCh. 15 - Prob. 12P
Ch. 15 - Prob. 14PCh. 15 - Prob. 15PCh. 15 - Prob. 16PCh. 15 - Prob. 17PCh. 15 - Prob. 19PCh. 15 - Prob. 22PCh. 15 - Prob. 23PCh. 15 - Prob. 24PCh. 15 - Prob. 25PCh. 15 - Prob. 26PCh. 15 - Prob. 27PCh. 15 - Prob. 28PCh. 15 - Prob. 29PCh. 15 - Prob. 30PCh. 15 - Prob. 31PCh. 15 - Prob. 32PCh. 15 - Prob. 33PCh. 15 - Prob. 34PCh. 15 - Prob. 35PCh. 15 - Prob. 36PCh. 15 - Prob. 37PCh. 15 - Prob. 38PCh. 15 - Prob. 39PCh. 15 - Prob. 40PCh. 15 - Prob. 41PCh. 15 - Prob. 42PCh. 15 - Prob. 43PCh. 15 - Prob. 44PCh. 15 - Prob. 45PCh. 15 - Prob. 46PCh. 15 - Prob. 47PCh. 15 - Prob. 48PCh. 15 - Prob. 49PCh. 15 - Prob. 50PCh. 15 - Prob. 51PCh. 15 - Prob. 52PCh. 15 - Prob. 53PCh. 15 - Prob. 54PCh. 15 - Prob. 55PCh. 15 - Prob. 1.1CPCh. 15 - Prob. 2.1CP
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