Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16,...
Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 12, 15 (listed from oldest to most recent). Forecast sales for the next day using a three-day weighted moving average where the weights are 3,2 and 1 (from most recent to oldest one) Show your calculation
Homework Answers
Last 10 days demand: 12,13,16,15,12,18,14,12,12,15
The most recent 3 being:
15 x weight = 15 x 3= 45
12 x weight = 12 x 2= 24
12 x weight = 12 x 1 = 12
The 3 day moving average = (45 + 24 + 12)/3 = 27
Answer: 27
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