Prepare a forecast for five week moving average

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Reference no: EM1327915

A rental car manager estimates the number of full-size sedans rented per week so that she can maintain adequate number of cars in the lot. Data for the past 10 weeks are shown here:

Week Rentals Week Rentals

1 23 6 28

2 24 7 32

3 32 8 35

4 26 9 26

5 31 10 24

a) Prepare a forecast for week 11 by using a five -week moving average

b) Prepare a forecast for week 11 by using a 3-period weighted moving average, giving the weight of 0.5 to the most recent week, 0.3 to the second week and 0.2 to the third week.

c) Prepare a forecast using exponential smoothing method with α = 0.2. Forecast for week 1 was 22.

Reference no: EM1327915

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