Statistics Solutions

[Solution Library] Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table. Year Demand (1000's

Question: Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table.

Year Demand (1000's bags)
1 4
2 6
3 4
4 5
5 10
6 9
7 10
8 11
9 15
10 16
11 18
  1. Develop a 3-year moving average to forecast sales.
  2. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 3 and a weight of 2 for the second past year and sales in the other 2 years are each given a weight of 1.
  3. Which method do you think is best?
  4. Develop a trend line for the demand for fertilizer using any computer software.
  5. You have now developed three different forecasts. These are a 3-year moving average, a weighted moving average, and a trend line. Which one would you use? Explain your answer.

Price: $2.99
Solution: The downloadable solution consists of 5 pages
Deliverable: Word Document


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