forecasting assignment

0 / 5. 0

Name Professor Course Date The text book we are using is.. wink, Melnyk, Cooper & Hartley, (2017), Managing Operations Across the Supply Chain, McGraw Hill, 3rd Edition. Question 8 page 435 The owner of an online video rental service has recorded the following rentals each week: Week 1 2 3 4 5 6 7 8 Rentals 1202 1503 1444 1254 1609 1499 1689 1555 Use a three-week moving average to forecast sales for each of the weeks 4 through 9. For the prediction of rentals of week 9 using a three week moving average, then: 1499+1689+15553=1581 rentalsFor week 8: 1609+1499+16893=1599 rentalsFor week 7: 1254+1609+14993=1454 rentalsFor week 6: 1444+1254+16093=1435 rentalsFor week 5: 1503+1444+12543=1400 rentalsFor week 4: 1202+1503+14443=1383 rentalsUse a four-week moving average to forecast sales for each of the weeks 5 through 9. Using a four moving average, the rentals for week 9 through 5 are obtained as: 1609+1499+1689+15554=1588 rentals1689+1499+1609+12544=15121444+1254+1609+14994=14511503+1444+1254+16094=14521202+1503+1444+12544=1350Compare the forecasts created by these two methods using mean absolute deviation. Which forecasting method would you recommend? 3-week moving average Week Actual Rentals Predicted Value Difference 1 1202     2 1503     3 1444     4 1254 1383 129 5 1609 1400 209 6 1499 1435 64 7 1689 1454 235 8 1555 1599 44     Sum of Difference 681     Average Difference 136.2 4-week moving average Week Actual Rentals Predicted Value Difference 1 1202     2 1503     3 1444     4 1254     5 1609 1350.75 258 6 1499 1452.5 47 7 1689 1451.5 238 8 1555 1512.75 42     Sum of Difference 585     Average

Free forecasting assignment Essay Sample

Related samples

Zika virus: Transmission form Introduction The Zika virus belongs to the Flaviviradae family, was found for the first time in a monkey called Rhesus febrile and in...

Zika virus: cases and prevention Introduction The World Health Organization (WHO) has confirmed that Zika is a virus caused through the mosquito bite which is...

Zeus The King of Greek mythology Introduction Zeus is the Olympic God of heaven and thunder, the king of all other gods and men and, consequently, the main figure...

Zeus's punishment to Prometheus Introduction Prometheus, punished by Zeus Prometheus, punished by Zeus. Prometheus is a ‘cousin’ of Zeus. He is the son of the...

Comments

Leave feedback

Your email address will not be published. Required fields are marked *