Data collected on the yearly registrations to Sigma seminar at the Quality College are shown in the following table:
Data collected on the yearly registrations to Sigma seminar at the Quality College are shown in the following table:
a) Develop a 3-year moving average to forecast registrations from year 4 to year 12.
b) Estimate demand again for years 4 to 12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1.
c) Graph the original data and the two forecasts. Which of the two forecasting methods seems better?
Homework Answers
Below is the screenshot of the formula applied -
Below is the result -
From above, it seems that three period weighted moving average forecast seems to be better.
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Data collected on the yearly registrations to Sigma seminar at the Quality College are shown in the following table:
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