Question: hello can you please help me solve the following question for operations management: The following table shows the actual demand observed over the last 11
hello can you please help me solve the following question for operations management:
The following table shows the actual demand observed over the last 11 years:
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| Demand | 7 | 9 | 4 | 7 | 11 | 8 | 11 | 14 | 8 | 9 | 7 |
This exercise contains only parts b, c, and d.
b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place).
| Year | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| Forecast | nothing | nothing | nothing | nothing | nothing | nothing | nothing | nothing | nothing |
c) Using the 3-year weighted moving average with weights 0.20, 0.35, and 0.45, using 0.45 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places).
| Year | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| Forecast | nothing | nothing | nothing | nothing | nothing | nothing | nothing | nothing | nothing |
d) Mean absolute deviation for the forecast developed using the 3-year moving average is 2.49 and for the 3-year weighted moving average is 2.48.
Based on this information, the better forecast is achieved using the weighted moving average approach.
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