The Last Seven Weeks of Demand at a New Car

question 53

Essay

The last seven weeks of demand at a new car dealer are shown below.Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3,2,and 1 (where the most recent week receives the highest weight).(Round all forecasts to the nearest whole unit. )Calculate the MAD for this forecast (covering all weeks in which error comparisons can be made).What does the MAD indicate?
Week Sales
1 25
2 30
3 27
4 31
5 27
6 29
7 30

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Definitions:

Subordinates

Employees or team members who are lower in rank or position and report to someone higher in the hierarchy.

Responsibilities

Duties or tasks that an individual or entity is expected to perform or oversee.

Lean Manufacturing

A systematic method for waste minimization within a manufacturing system without sacrificing productivity, focusing on value creation for the end customer.

Cost Effectiveness

An evaluation measure that compares the relative costs and outcomes (effects) of different courses of action to determine which offers the best return or results for the resources invested.