For this tutorial, use L3D = 178. Q1 (a) Jan Demand data for an interior decoration contractor is recorded in Table 1.
Posted: Tue Jun 07, 2022 2:41 pm
- For This Tutorial Use L3d 178 Q1 A Jan Demand Data For An Interior Decoration Contractor Is Recorded In Table 1 1 (3.8 KiB) Viewed 55 times
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Q1 (a) Jan 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) Table 1: Demand Data Feb Mar April May June Aug Sept 1270 1325 1380 1500+L3D 1530 1560 +2(L3D) +2(L3D) 00 July 1550 +2(L3D)