A warehouse manager wants to estimate the inventory moving in and out of his warehouse each week.
Question:
A warehouse manager wants to estimate the inventory moving in and out of his warehouse each week. An analyst suggests using a 3-, 5-, or 7-week moving average. However, before deciding, he wants to compare the accuracy of each for the most recent 10-week period.
a) Calculate the 3-, 5-, and 7-week moving average.
b) Calculate MAD for each forecast. Which is the best choice?
c) Calculate the cash demand for week 18th, based on part (b).
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ISBN: 9780135173626
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