A manager of a large workforce wishes to forecast the monthly employee turnover within his workforce....
A manager of a large workforce wishes to forecast the monthly employee turnover within his workforce.
Turnover data for the last several months is given below.
| month | turnover |
| 1 | 20 |
| 2 | 30 |
| 3 | 23 |
| 4 | 33 |
| 5 | 50 |
The manager decides to use a three month moving average. What is the turnover forecast for month 6?
Enter the exact answer to two decimal places of accuracy. (If the answer were an even 25, enter 25.00.)
Homework Answers
the necessary calculation table:-
| month | turnover | 3 month moving average |
| 1 | 20 | |
| 2 | 30 | |
| 3 | 23 | |
| 4 | 33 | (20+30+23) /3 = 21.33 |
| 5 | 50 | (30+23+33)/3 = 28.67 |
| 6 | (23+33+50)/3 = 35.33 |
the turnover forecast for month 6 = 35.33
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