Question: SOLVED PROBLEMS Problem 1. Moving Average, Weighted Moving Average, and Exponential Smoothing The weekly demand for chicken wings at a local restaurant during the past

SOLVED PROBLEMS Problem 1. Moving Average,

SOLVED PROBLEMS Problem 1. Moving Average, Weighted Moving Average, and Exponential Smoothing The weekly demand for chicken wings at a local restaurant during the past six weeks has been Week 1 2 3 4. 5 6 Demand 650 521 563 735 514 596 a. Forecast the demand for week 7 using a five-period moving average. b. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W5.5, W. = -3,W3 = .2. c. Forecast the demand for week 7 using exponential smoothing. Use an a value of .1 and assume the forecast for Page 211 week 6 was 600 units. d. What assumptions are made in each of the above forecasts

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