Question: The US Census Bureau publishes data on factory orders for all manufacturing durable goods, and nondurable goods industries. Shown here are the factory orders in
The US Census Bureau publishes data on factory orders for all manufacturing durable goods, and nondurable goods industries. Shown here are the factory orders in the united states over last 6 years
| year | Factory order ($100billion) |
| 1 | 26 |
| 2 | 28 |
| 3 | 30 |
| 4 | 26 |
| 5 | 29 |
| 6 | 34 |
1. Use Moving average of order 4 (forecasting method) for forecasting factory order for period 6 is:
| A. | 28.33
| |
| B. | 28.25
| |
| C. | 27.5 | |
| D. | 29
|
2. use Naive forecast method for forecasting factory order for period 5
| A. | 29
| |
| B. | 26 | |
| C. | 28 |
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
