Question: Problems 16 through 21 are based on the following data. Observations of the demand for a certain part stocked at a parts supply depot during

Problems 16 through 21 are based on the following data. Observations of the demand for a certain part stocked at a parts supply depot during the calendar year 1999 were 16. Determine the one-step-ahead forecasts for the demand for January 2000 using 3-, 6-, and 12-month moving averages. 17. Using a four-month moving average, determine the one-step-ahead forecasts for July through December 1999. 18. Using a four-month moving average, determine the two-step-ahead forecast for July through December 1999. (Hint: The two-step-ahead forecast for July is based on the observed demands in February through May.) 19. Compute the MAD for the forecasts obtained in Problems 17 and 18 . Which method gave better results? Based on forecasting theory, which method should have given better results? 20. Compute the one-step-ahead three-month and six-month moving-average forecasts for July through December. What effect does increasing N from 3 to 6 have on the forecasts

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