Question

Plot the following data about demand for an item. Find the moving averages by
taking n = 3. Use these to forecast next two months’ demand.
Month 1 2 3 4 5 6 7 8 9 10 11 12
Demand 46 56 54 43 57 56 67 62 50 56 47 56

Answer 1

Answer on Question #55133 – Math – Statistics and Probability

Plot the following data about demand for an item. Find the moving averages by taking $n = 3$. Use these to forecast next two months' demand.

Month 1 2 3 4 5 6 7 8 9 10 11 12

Demand 46 56 54 43 57 56 67 62 50 56 47 56

Solution

The moving averages by taking $n = 3$ is finding the average value of three month's Demand before the month for which we need to find MA.

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