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John's House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns...

  1. John's House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns a weight of 5 to the previous month's demand, 3 to demand two months ago, and 1 to demand three months ago. If sales amounted to 3000 pancakes in May, 2200 pancakes in June, and 1000 pancakes in July, what should be the forecast for August?

    2400

    1622

    2511

    2067

    3767
business   Operations-Management   
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Answer #1

Moving average forecast can be used to forecast long-term trends and can be calculated for any time period.

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