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Suppose retailers would like to forecast the percentage of customers who plan to purchase gift cards...

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Question

Basic Math

Suppose retailers would like to forecast the percentageof customers who plan to purchase gift cards during the upcomingholiday season. The following data show this percentage from 2002to 2009. The data is as follows:

Year

Percent

2002

55

2003

60

2004

64

2005

67

2006

66

2007

69

2008

66

2009

64

Perform the following:

  1. Using a 3-period simple moving average, forecast thepercentage of holiday shoppers who will purchase a gift card in2010.

-



  1. Calculate the MAD for the forecast in parta.

  2. Using a 3-period weighted moving average with theweights 5, 3, and 1, forecast the percentage of holiday shopperswho will purchase a gift card in 2010.

  3. Calculate the MAD for the forecast in partc.

  4. In which forecast do you have the mostconfidence?

Answer & Explanation Solved by verified expert
4.4 Ratings (1018 Votes)
a3 Moving Average Sum of Previous 3 Months Value3Hence for 2010 3    See Answer
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