Additional Tutorial: Forecasting This question uses the last three-digit value (L3D) of individual student matrix number

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Additional Tutorial Forecasting This Question Uses The Last Three Digit Value L3d Of Individual Student Matrix Number 1 (40.75 KiB) Viewed 19 times

Additional Tutorial: Forecasting This question uses the last three-digit value (L3D) of individual student matrix number. Example, if the matrix number is CD180023 then the L3D value is 23 (since the last three digit is 023). For this tutorial, use L3D = 178. Q1 (a) Demand data for an interior decoration contractor is recorded in Table 1. Forecast the demand for month of October using the methods described by i-iv. (i) Naive. (1 mark) (ii) 3-period simple moving average. (1 marks) (iii) 4-period weighted moving average with weightage value of 0.4, 0.3 and 0.2 (highest value for the most recent period). It is a common understanding that the summation of weight factors shall equal to 1. (2 marks) (iv) Exponential smoothing with a = 0.3. Assume the forecast for month of July is 1600+ 2(L3D). (3 marks)