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3-Month and Weighted Moving Average Forecasts

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1. The owner of Carpet World needs to make an accurate forecast of demand for Berber carpet. If she does not order enough from the carpet mill, customers will go some place else. Historically she has sold the following in the previous 8 months.

Month Demand for Berber (1000 yd.)
1 8
2 12
3 7
4 9
5 15
6 11
7 10
8 12

a. Compute a 3-month moving average forecast.
b. Compute a weighted moving average forecast. Assign .55, .33, and .12 for the months in sequence.

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This solution provides computations for moving average forecasts.

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