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Develop a four-month moving average forecast

Assignment Help Advanced Statistics
Reference no: EM132242123

QUESTION 1

1) Develop a four-month moving average forecast for Wallace Garden Supply and compute the MAD. A three-month moving average forecast was developed in the attached table. You may also view this table at Resources Tab under the Problem Sets Tab.

Question Based on above no.1

a) The four-month moving average forecast for Wallace Garden Supply is ___________.? (Please round it to an integer and include no units.)

b) The Mean Absolute Deviation (MAD) for the above forecast is . (Please round it to two decimal points.)

Question No. 2 - example of table above.

2) Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the table attached. Develop a 3-year moving average to forecast sales. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1. You may also view this table at Resources Tab under the Problem Sets Tab.
Question Based on above - no.2
a) The three-year moving average forecast for Wallace Garden Supply is . ?(Please round it to two decimal points and include no units.)
b) The Mean Absolute Deviation (MAD) for the above moving average forecast is .? (Please round it to two decimal points.)
c) The three-year weighted moving average forecast for Wallace Garden Supply is .? (Please round it to an integer and include no units.)
d) The Mean Absolute Deviation (MAD) for the above weighted moving average forecast is .? (Please round it to two decimal points.)

Question 3) Based on your previous calculation, which method do you think is the best?

A. 3-year moving average.
B. 3-year weighted moving average.

Question 4) Sales of Cool-Man air conditioners have grown steadily during the past 5 years as shown in the attached table. The sales manager had predicted, before the business started, that year 1's sales would be 410 air conditioners. Please use exponential smoothing with a weight of α = 0.30 to answer the following questions. You may also view this table at Resources Tab under the Problem Sets Tab.

a) The starting /initial forecast for the sales of Cool-Man air conditioners is _________.?
b) The Year 2 forecast for the sales of Cool-Man air conditioners is _______ ?
c) The Year 6 forecast for the sales of Cool-Man air conditioners is _______ ?
d) The Mean Absolute Deviation (MAD) for the above exponential smoothing forecast is ______ ?

Attachment:- Problem set.rar

Verified Expert

The two main types of quantitative forecasting used by business analysts are the explanatory method that attempts to correlate two or more variables and the time series method that uses past trends to make forecasts.

Reference no: EM132242123

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len2242123

2/25/2019 2:29:31 AM

Hi team, I am sending two files. First attachment is assigned questions and second attachment is help file for assigned questions. Please review the assigned questions when you preparing the answers.

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