Develop Forecasts for Periods 7 Through 10 for the Demand

question 75

Essay

Develop forecasts for periods 7 through 10 for the demand data in the table using a three period moving average, a weighted moving average using 0.6, 0.3, and 0.1, and exponential smoothing with alpha = 0.7. Use a 6^th period forecast of 135 as the starting point for the exponential smoothing technique.
$$\begin{array} { | c | c | c | c | c | } \hline \text { Period } & \text { Actual } & \text { MA } n = 3 & \text { WMA } & \text { Exp. Smoothing } \\\hline 1 & 64 & & & \\\hline 2 & 84 & & & \\\hline 3 & 91 & & & \\\hline 4 & 97 & & & \\\hline 5 & 115 & & & \\\hline 6 & 135 & & & \\\hline 7 & 137 & & & \\\hline 8 & 144 & & & \\\hline 9 & 153 & & & \\\hline 10 & 171 & & & \\\hline\end{array}$$

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Definitions:

Kin Selection

An evolutionary strategy that favours the reproductive success of an organism's relatives, even at a cost to the organism's own survival and reproduction.

Genetic Traits

Physical or behavioral characteristics determined by one's genetics.

Self-Serving Motivations

Motives driven by an individual's own interests, benefits, or positive outcomes.

Norm of Reciprocity

A social expectation that dictates individuals should help those who have helped them, promoting mutual aid and cooperation.