Forecast for demand based on moving average
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Recent past demand for product ZXT is given in the following table.
Month Actual Demand
February 20
March 22
April 33
May 35
June 31
July 48
August 41
Determine the forecasted demand for May, June, July August and September based on a three- month moving average. What is the average value of forecasts for those five months?
33.2
32.0
34.4
32.6
30.0
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The solution provides step by step method for the calculation of Forecast for demand based on moving average. . Formula for the calculation and Interpretations of the results are also included.
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