What is the forecast for Aug based on a weighted moving average applied to the following past demand data and using the weights: 5, 3, 1.5 (largest weight is for most recent data)?
Feb.
Mar.
Apr.
May
Jun.
Jul.
30
35
22
27
33
40
Expert Answer
For may actual demand = 27 and weight = 1.5
For June actual demand = 33 and weight = 3
For July actual demand = 40 and weight = 5
Using a weighted moving average method the forecast for a period is calculated as :
sum of the product of the actual demand and their respective weights for the previous periods / Sum of weights.
So using the above
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