Sales of Cool-Man air conditioners have grown steadily during the past 5 years. Year Demand 1 450 2 495 3 518 4 563 5 584 What is the forecast value for year 4 based on 3-year simple moving average? A. 487.7 B. 525.3 C. 492.0 D. 530.7 What is the forecast value for year 5 based on 3-year weighted moving average in which demand in the most recent year is given a weight of 3 and demand in the other 2 years is each given a weight of 2? A. 487.7 B. 525.3 C. 492.0 D. 530.7 Assume the last period's forecast for year 1 demand is 410 to begin the procedure. What is the forecasted value for year 3 for smoothing constant α = 0.30? A. 422.0 B. 443.9 C. 466.1 D. 495.2 Assume the last period's forecast for year 1 demand is 410 to begin the procedure. What is the forecasted value for year 5 for smoothing constant α = 0.30? A. 422.0 B. 443.9 C. 466.1 D. 495.2 What is the MAD for the Exponential Smoothing method (α = 0.30)? A. 67.0 B. 62.1 C. 74.6 D. 28.0 What is the MAD for the weighted moving average method? A. 67.0 B. 62.1 C. 74.6 D. 28.0 Which one is the best forecasting method (Simple Moving Average or Weighted Moving Average or Exponential Smoothing)? A. Simple Moving Average B. Weighted Moving Average C. Exponential Smoothing D. Qualitative Method
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Forecast value for year 4 based on 3-year simple moving average: Simple moving average for year 4 = (Demand in year 1 + Demand in year 2 + Demand in year 3) / 3 = (450 + 495 + 518) / 3 = 1543 / 3 = 514.333 So, the forecast value for year 4 based on 3-year Show more…
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