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Forecasting

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The table below shows the demand for Fidgets over an 8-month period. Calculate a four-period moving average forecast for September. Also evaluate the quality of the four-period moving average forecasting model by calculating the root-mean-square error for the data set. Note: Round all intermediate calculations to two decimal places.
Month Demand
Jan 10
Feb 11
Mar 5
Apr 8
May 6
Jun 11
Jul 5
Aug 11.

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Solution Summary

The solution calculates a four-period moving average forecast. The solution is very easy to follow along and can be easily understood by anyone with a basic understanding of the concepts. The solution answers all the question(s) being asked in a succinct way. Overall, an excellent response.

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The answers are highlighted in Yellow. Also, the RMSE is too large. ...

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