Question: Forecasts based on averages. Given the following data: Prepare a forecast for period 6 using each of these approaches: a. The appropriate naive approach. b.

Forecasts based on averages. Given the following data:

Period 1 2 3 4 5 Number of Complaints 60 65 55

Prepare a forecast for period 6 using each of these approaches:

a. The appropriate naive approach.

b. A three-period moving average.

c. A weighted average using weights of .50 (most recent), .30, and .20.

d. Exponential smoothing with a smoothing constant of .40.

Period 1 2 3 4 5 Number of Complaints 60 65 55 58 64

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