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Management Studies

Problem:

Historical demand for a product is

Month	Demand
January	12
February	11
March	15
April	12
May	16
June	15

Question 1) Using a weighted moving average with weights of 0.6, 0.3, and 0.1. The weight of 0.6 is to be attached to the most recent demand and 0.3 to the second most recent demand. Compute the July forecast. Please provide at least one step of calculation and the correct forecast.

Question 2) Using a simple three-month moving average, compute the forecasts for April, May, and June. For each forecast, please provide at least one step of calculation and the correct value.

Question 3) Based on the forecasts from (2), compute the mean absolute deviation (MAD) for the simple 3-month moving average method. Please provide the formula, at least one step of calculation, and the correct answer.

Question 4) Using simple linear regression analysis, calculate the regression equation for the product. For both parameters a and b, please provide the formula, at least one step of calculation, and the correct value.

Question 5) Using the regression equation from (4), calculate the forecast for July. Please provide one step of calculation and the correct answer.

Solve the given numerical problem and illustrate step by step calculation.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91162263

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