Using the following data, calculate a 3 period weighted moving average forecast the next period, opt
Question: Using the following data, calculate a 3 period weighted moving average forecast the next period, optimizing the 3 period weights, minimizing the standard error, using Solver:
| Period | Demand | Period | Demand |
| 1 | 8,114 | 11 | 8,459 |
| 2 | 8,215 | 12 | 8,487 |
| 3 | 8,222 | 13 | 8,499 |
| 4 | 8,014 | 14 | 8,501 |
| 5 | 8,055 | 15 | 8,525 |
| 6 | 8,212 | 16 | 8,569 |
| 7 | 8,134 | 17 | 8,610 |
| 8 | 8,357 | 18 | 8,657 |
| 9 | 8,350 | 19 | 8,701 |
| 10 | 8,369 | 20 | 8,756 |
a. Calculate forecasted demand for the period 21.
b. What weights did you calculate for period t-1, period t-2 and period t-3?
c. Comment on the forecast error.
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Answer: The downloadable solution consists of 2 pages
Solution Format: Word Document
Solution Format: Word Document
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