Forecasting Exercise 1_Solution.xlsx - Week 1 2 3 4 5 6 7 8 9 10 11 Rooms Sold 483 493 475 509 514 524 497 533 509 595 Simple Average Average Forecast

# Forecasting Exercise 1_Solution.xlsx - Week 1 2 3 4 5 6 7 8...

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Simple Average Simple Moving Average 1 Simple M Week Rooms Sold Average Forecast Average Forecast Average 1 483 483 2 493 488 483 3 475 483.6666666667 488 483.6666666667 4 509 490 484 492.3333333333 484 5 514 494.8 490 499.3333333333 492 494.8 6 524 499.6666666667 495 515.6666666667 499 503 7 497 499.2857142857 500 511.6666666667 516 503.8 8 533 503.5 499 518 512 515.4 9 509 504.1111111111 504 513 518 515.4 10 595 513.2 504 545.6666666667 513 531.6 11 513 546 Forecast Demand at Week 11 by using different forecasting methods Find average first, and use round function (round to whole number) to ge 1. Simple Average: 2. Simple moving average 1: Use 3 most recent periods 3. Simple moving average 2: Use 5 most recent periods 4. Weighted moving average 1: Use wegihts for 1 (i.e., Week 10 -> 0.5, W