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Calculate forecast of the demand using period moving average

Problem: The ABC Floral Shop sold the following number of geraniums during the last 2 weeks:

Day Demand

1 200

2 134

3 157

4 165

5 177

6 125

7 146

8 150

9 182

10        197

11        136

12        163

13        157

14        169

Develop a spreadsheet to answer the following questions.

Q1. Calculate a forecast of the above demand using a 3- and 5-period moving average.

Q2. Graph these forecasts and the original data using Excel. What does the graph show?

Q3. Which of the above forecasts is best? Why?

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Microeconomics: Calculate forecast of the demand using period moving average

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Microeconomics: Calculate forecast of the demand using period moving average

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