Calculate a Shop's Forecast of Demand Using a 3- and 5-Period Moving Average
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The ABC Floral Shop sold the following number of geraniums during the last 2 weeks:
Key:
Day | Demand
1 | 200
2 | 134
3 | 157
4 | 165
5 | 177
6 | 125
7 | 146
8 | 150
9 | 182
10 | 197
11 | 136
12 | 163
13 | 157
14 | 169
Develop a spreadsheet to answer the following questions.
- Calculate a forecast of the above demand using a 3- and 5-period moving average.
- Graph these forecasts and the original data using Excel. What does the graph show?
- Which of the above forecasts is best? Why?
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Solution Summary
This solution helps with various business analysis problems. It helps calculate a forecast on demand using a 3 to 5 period moving average, graph forecasts and original data, and discusses which forecast is best. Detailed explanations are provided.
Solution Preview
Please see the attached spreadsheet and let me know if you have any questions.
To construct an x-day moving average, at each point we average the demand on each of the last x days. For day 15, using the 3-day moving average we ...
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