Forecasting product Demand
January 25th, 2023
Demand for a particular type of battery fluctuates from one week to the next. A study of the last 6 weeks provides the following demands (in dozens): 4, 5, 3, 2, 8 and 10 (last week).
(a) Forecast demand for the next week using a 2-week moving average.
(b) Forecast demand for the next week using a 3-week moving average.