Discuss the below:
Q1: Develop a four month moving average forecast for Wallace garden supply and compute the MAD .A three month moving average forecast was developed in the section on moving averages in following :-Wallace Garden supply decides to forecast storage shed sales by weighting the past three month as follows_:-
Q2: Data collected on the yearly demand for 50 pound bags of fertilizer at Wallace Garden Supply are shown in the following table , Develop a three year moving average to forecast sales. Then estimate demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other two years are each given a weight of 1. Which method do you think is best?
Year Demand for fertilizer (1000s of bags)
1 4
2 6
3 4
4 5
5 10
6 8
7 7
8 9
9 12
10 14
11 15
Q3: Sales of cool man air conditioners have grown steadily during the past five years:-The sales manager had predicted, before the business started, that year 1's sales would be 410 air conditioners. Using exponential smoothing with a weight of α =0.30, develop forecasts for years 2 through 6.
Years Sales
1 50
2 495
3 518
4 563
5 584