Question: Here's a small dataset and three forecasting questions, export into excel sheet. Dataset: Monthly Sales Data (in thousands) Month Sales (in thousands) January 200 February
Here's a small dataset and three forecasting questions, export into excel sheet. Dataset: Monthly Sales Data (in thousands) Month Sales (in thousands) January 200 February 180 March 210 April 220 May 240 June 230 July 250 August 260 September 270 October 300 November 310 December 320 Question a: What will be the forecasted sales for January next year, assuming a simple moving average with a 3-month window? Question b: Using a weighted moving average with weights 0.5, 0.3, and 0.2 for the most recent, second recent, and third recent month, respectively, forecast the sales for January next year. Question c: Forecast the sales for January next year using exponential smoothing with a smoothing factor () of 0.6, and assume December's forecast is equal to its actual sales (320,000)
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