Question: List of formulas: Simple moving average method: Ft+1 = (Dt + Dt-1 + Dt-2 + + Dt-n+1)/n Weighted moving average method: Ft+1 = W1D1 +

List of formulas:

  • Simple moving average method: Ft+1 = (Dt + Dt-1 + Dt-2 + + Dt-n+1)/n
  • Weighted moving average method: Ft+1 = W1D1 + W2D2 + + WnDt-n+1
  • Exponential smoothing method: Ft+1 = Ft + (Dt Ft)

Demands for a newly developed salad bar at the PQR restaurant for the first four months of this year are shown in the table below. Round to three decimal places.

---------------------------------- Month Demand ----------------------------------

January 67

February 58

March 71

April 65

---------------------------------- Use the problem statement and table to answer the questions below.

Question:

What is the forecast for May if the three-month weighted moving average method is used? [Note: Use weights of 0.6 for the most recent demand, 0.3, and 0.1 for the oldest demand.]

A. 64.600

B. 66.100

C. 68.040

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