Question: Data collected on the yearly demand for 50 pound bags of
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table. 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. Which method do you think isbest?
Answer to relevant QuestionsDevelop a trend line for the demand for fertilizer in Problem 5-15, using any computer software.What effect did the smoothing constant have on the forecast for Cool-Man air conditioners? Which smoothing constant gives the most accurate forecast?Using the 911 call data in Problem 5-27, forecast calls for weeks 2 through 25 using ɑ = 0.9. Which is best? (Again, assume that actual calls in week 25 were 85 and use an initial forecast of 50 calls.) In the past, Judy Holmes's tire dealership sold an average of 1,000 radials each year. In the past two years, 200 and 250, respectively, were sold in fall, 350 and 300 in winter, 150 and 165 in spring, and 300 and 285 in ...When using a control chart, what are some patterns that would indicate that the process is out of control?
Post your question