A) Plot the Above Data on a Graph

question 28

Short Answer

$$\begin{array} { | c | c | } \hline \text { Year } & \text { Demand } \\\hline 1 & 7 \\\hline 2 & 9 \\\hline 3 & 5 \\\hline 4 & 9 \\\hline 5 & 13 \\\hline 6 & 8 \\\hline 7 & 12 \\\hline 8 & 13 \\\hline 9 & 9 \\\hline 10 & 11 \\\hline 11 & 7 \\\hline\end{array}$$ A) Plot the above data on a graph. Do you observe any trend, cycles, or random variations?
B) Starting from year 4 and going to year 12, forecast demand using a 3-year moving average. Plot your forecast on the same graph as the original data.
C) Starting from year 4 and going to year 12, forecast demand using a 3-year moving average with weights 0.1, 0.3 and 0.6 ( use 0.6 for the most recent year). Plot your forecast on same graph.
D) As you compare forecasts with original data, which seems to give better results?

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Definitions:

John Tyler

The 10th President of the United States, serving from 1841 to 1845, known for his annexation of Texas and adherence to states' rights principles.

Annexed Hawaiian Islands

Describes the historical event in which the Hawaiian Islands were officially incorporated into the United States as a territory in 1898.

Kansas-Nebraska Act

An 1854 U.S. law that created the territories of Kansas and Nebraska, leaving the decision of slavery to the residents, which led to a violent conflict known as "Bleeding Kansas."

Far-Reaching Consequences

Outcomes or effects of an action, decision, or event that have a wide-ranging impact, affecting many areas or people beyond the immediate context.