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    Forecasting by moving average methods

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    The following gives the number of pints of type B Blood used at Woodlawn Hospital in the past 6 weeks:
    August 31 360
    September 7 389
    September 14 410
    September 21 381
    September 28 368
    October 5 374

    a) Forecast the demand for the week of October 12 using a 3-week moving average.
    b) Use a 3-week weighted moving average, with weights of .1, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12.
    c) Compute the forecast for the week of October 12 using exponential smoothing with a forecast for August 31 of 360 and α = .2

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    Solution Summary

    Solution depicts the steps for forecasting a period by using moving average, weighted moving average and exponential smoothing method.