The following table shows the actual demand observed over the last 11? years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 8 8 4 9 13 8 11 13 8 13 6
b) Using the? 3-year moving? average, provide the forecast from periods 4 through 12 ?(round your responses to one decimal? place).
C) Using the? 3-year weighted moving average with weights 0.10?, 0.35?, and 0.55?, using 0.55 for the most recent? period, provide the forecast from periods 4 through 12? (round your responses to two decimal? places). Mean absolute deviation for the forecast developed using the? 3-year moving average is 2.83 and for the? 3-year weighted moving average is 3.47.
d. Based on this? information, the better forecast is achieved using either the 3-year moving average or the weighted moving average approach.