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Question: data collected on yearly registrations for a lean manufacturing seminar...

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Data collected on yearly registrations for a Lean Manufacturing seminar at the Quality College are shown below.

Year     Registrations                          Year     Registrations

1          4,000                                       7          7,000
2          6,000                                       8          9,000
3          4,000                                       9          12,000
4          5,000                                       10        14,000
5          10,000                                     11        15,000
6          8,000  

a.) Develop a 3-year moving average to forecast registrations from years 4 to year 12

b.) Estimate demand for years 4 to 12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1.

c.) Graph the original, and the two forecasted sets of data using excel or manually. Which of the two forecasting methods seems better?

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