Question: Suppose that you are using the simple average to make a forecast. This period's forecast was equal to 1 0 0 units, and it was
Suppose that you are using the simple average to make a forecast. This period's forecast was equal to units, and it was based on periods of demand. This period's actual demand was units. What is your forecast for next period?
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
