Question

Moving Average, Weighted Moving Average, and Exponential Smoothing The weekly demand for chicken wings at a local restaurant during the past six weeks has been Week 1 2 3 4 5 6 Demand 650 521 563 735 514 596 a. Forecast the demand for week 7 using a five-period moving average. b. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W1= .5, W2= .3, W3= .2. c. Forecast the demand for week 7 using exponential smoothing. Use an α value of .1 and assume the forecast for week 6 was 600 units. d.What assumptions are made in each of the above forecasts?

          Moving Average, Weighted Moving Average, and Exponential Smoothing The weekly demand for chicken wings at a local restaurant during the past six weeks has been Week          1     2     3       4      5     6 Demand  650  521  563 735  514  596 a. Forecast the demand for week 7 using a five-period moving average. b. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W1= .5, W2= .3, W3= .2. c. Forecast the demand for week 7 using exponential smoothing. Use an α value of .1 and assume the forecast for week 6 was 600 units. d.What assumptions are made in each of the above forecasts?

Added by Robert H.

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