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Last week's sales of iMac computers at an Apple Store in Oklahoma City, OK, are shown in the following table:
Day
Sales (Dollars)
1
180
2
150
3
210
4
225
5
195
6
190
7
230
(a) Use the 3-day moving average method for forecasting days 4-7.
(b) Use the 3-day weighted moving average method for forecasting days 4-7. Use Weight 1 day ago = 2, Weight 2 days ago = 4, and Weight 3 days ago = 3.
(c) Compare the techniques using the mean absolute deviation (MAD).
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