unknownmath8891 unknownmath8891

28-10-2022
Business

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what is your forecast for week 7 using a three-week weighted moving average with weights of 0.5, 0.3 and 0.2? the weights are stated from the most current time period to the oldest time period. 1 980

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akankshasharma92 akankshasharma92

02-11-2022

Forecast for week 7 using a three-week weighted moving average with weights of 0.5, 0.3 and 0.2 is 942.

Forecast for week 7 =(960 × 0.5 + 860 × 0.3 + 1020 × 0.2) = 942

Many firms utilize forecasting as a decision-making tool to assist with budgeting, planning, and anticipating future growth. Attempting to predict future outcomes based on historical data and managerial expertise is known as forecasting. There are two types of forecasts: qualitative (e.g., "gut feel") and quantitative (e.g. statistics). The most reliable forecasts use a combination of the two techniques to enhance their benefits and lessen their drawbacks.
Only our intuition and past experience are used in judgment predicting. No computer can comprehend context or make connections the way that our minds can. But humans also have some biases that make it challenging to analyze huge amounts of data. The greatest situations for judgment forecasting are those with little to no past data, including new product introductions and rival moves.

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