Question: Data collected on the yearly registration for a Six Sigma seminar at the Quality College are shown in the following table: Year Registrations (000) 1
- Data collected on the yearly registration for a Six Sigma seminar at the Quality College are shown in the following table:
| Year | Registrations (000) |
| 1 | 4 |
| 2 | 6 |
| 3 | 4 |
| 4 | 5 |
| 5 | 10 |
| 6 | 8 |
| 7 | 7 |
| 8 | 9 |
| 9 | 12 |
| 10 | 14 |
| 11 | 15 |
- Develop a 4-year moving average to forecast registrations from year 5 to year 12.
- Estimate demand again for years 5 to 12 within a 4-year weighted moving average in which registrations in the most recent year are given a weight of 3 and 2, and registrations in the other 2 years are each given a weight of 1.
- Compute the forecasts for each year using exponential smoothing, with an initial forecast for year 5 of 8. Use = 0.3.
- Using MAD, which of the three forecasting methods is best?
- Using MAPE, which of the three forecasting methods is best?
- Forecast registrations for year 15, using trend projection.
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