Question: Question i. Differentiate between independent and dependent variable in forecasting.[2 marks] ii. The last seven weeks of sales at KC car dealership can be seen

Question

i. Differentiate between independent and dependent variable in forecasting.[2 marks]

ii. The last seven weeks of sales at KC car dealership can be seen in Table 2 below.

Table 2

Week Sales

1 25

2 30

3 27

4 31

5 27

6 29

7 30

a. Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest weight). (Round all forecasts to the nearest whole unit.) [5 marks]

b. Calculate the MAD for this forecast. [4 marks]

c. What does the MAD indicate? [1 mark]

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