Questions
Numerical
A company wants to forecast demand using the weighted moving average. If the company uses two prior yearly sales values (i.e., year 2022 = 110 and year 2023 = 130), and we want to weight year 2022 at 10% and year 2023 at 90%, what is the weighted moving average forecast for year 2024? (Round to 2 decimals)
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Step-by-Step Analysis
To forecast the next year using a weighted moving average, we apply the specified weights to the most recent historical values.
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