Question: What is the answer to part E? what is the answer to part E? Quiz 1 Sales of washing machines at the local Sears store
What is the answer to part E?
what is the answer to part E?
Quiz 1 Sales of washing machines at the local Sears store in Huntsville, Texas over the past 4 months have been 130, 120, 110, and 100 units (with 100 units being sales from the MOST recent month). Using the following techniques, make a forecast for the 5th month's sales of washing machines: A. Naive 100 units B. 3 month moving average 110 units C. 3 month weighted moving average (3,2,1) 106.67 units D. Which of the above forecasts do you think will be the most accurate (closest to actual demand in period 5)? After looking at all of the methods, I see that the most accurate of them is the 3 month method. I say this because it allocates the specific weights to each of the last value so that the outcome will be more specific, as well E. Can you think of another forecast (NOT using any of our mathematical techniques) that is probably more accurate than your answers from A -C? In other words, what would you forecast demand as for the 5th month if you were working for Sears
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