Question about Quality Control & Supply Chain Management
The ABC Floral Shop sold the following number of geraniums during the last 2 weeks:
Day Demand Day Demand
1 200 8 150
2 134 9 182
3 157 10 197
4 165 11 136
5 77 12 163
6 125 13 157
7 146 14 169
Develop a spreadsheet to answer the following questions.
* Calculate a forecast of the above demand using a 3- and 5-period moving average.
* Graph these forecasts and the original data using Excel. What does the graph show?
* Which of the above forecasts is best? Why?