Determine the forecast for month 13

Reference no: EM131408696

Joe Kool has decided to use 3-month weighted moving average method for one of his company's products. Last year's monthly sales data are given in Table 2.19. Joe is trying to decide the appropriate weights to select for his forecasting method that will minimize the sum of the absolute errors between the forecasts and the actual values. Show that the determination of the optimal weights can be formulated as an LP problem. Solve the linear program using any optimization software and determine the forecast for month 13.

Reference no: EM131408696

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