Compute the forecasted demand with a moving average
I need help with the following:
The ABC Floral Shop sold the following number of geraniums during the last 2 weeks:
Day 1: Demand: 200
Day 2: Demand 134
Day 3: Demand 157
Day 4: Demand 165
Day 5: Demand 177
Day 6: Demand 125
Day 7: Demand 146
Day 8: Demand 150
Day 9: Demand 182
Day 10: Demand 197
Day 11: Demand 136
Day 12: Demand 163
Day 13: Demand 157
Day 14: Demand 169
Develop a spreadsheet to answer the following questions.
Problem- Calculate a forecast of the above demand using a 3- and 5-period moving average.
Part 1- Graph these forecasts and the original data using Excel. What does the graph show?
Part 2- Which of the above forecasts is best? Why?
You need to describe the forecasted demand with a moving average and solve the above problem.