FORECASTING- Worked answers for 7-12

FORECASTING- Worked answers for 7-12 - FORECASTING OLD EXAM...

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Unformatted text preview: FORECASTING OLD EXAM QUESTIONS 7-12 Consider the following forecast: Period Demand 1 45 2 42 3 37 4 48 Answer the following two questions, based on this data. 7. If you were using a two period moving average, what would be the forecast for Period 3 ? a) 39.5 b) 42.5 c) 43 d) 43.5 e) 48 Two period moving average for Period 3= [Period 1 + Period 2 ]/2 = 45+42=87/2= 43.5 8. If you were using a two period moving average, what would be the forecast for Period 5 ? a) 39.5 b) 42.5 c) 43 d) 43.5 e) 48 Two period moving average for Period 5 = [Period 3+ Period 4]/2 = 37+48= 85/2 = 42.5 Consider the following data: Period Demand 1 60 2 59 3 60 4 61 Answer the following two questions, based on this data. 9. For the data given above, what would the naive forecast be for the Period 3 ? a) 58 b) 59 c) 60 d) 61 e) 62 *Nave Forecasts use an n value of 1 F t = F t-1 + alpha(A t-1 F t-1 ) = 59 + 1(59-59) = 59...
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FORECASTING- Worked answers for 7-12 - FORECASTING OLD EXAM...

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