Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows: Month Price Per Chip Month Price Per Chip January February $1.85 July August September $2.00 $1.61 $1.85 March $1.60 $1.65 $1.85 $1.60 April May October $1.88 November $1.60 June $1.89 December $1.75 This exercise contains only parts a, b, and c. a) Using a 2-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places): Month Mar Apr May Jun Jul Aug Sep Oct Nov Dec Forecast $1.73 1.61 1.73 1.87 1.89 1.95 1.93 1.75
Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows: Month Price Per Chip Month Price Per Chip January February $1.85 July August September $2.00 $1.61 $1.85 March $1.60 $1.65 $1.85 $1.60 April May October $1.88 November $1.60 June $1.89 December $1.75 This exercise contains only parts a, b, and c. a) Using a 2-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places): Month Mar Apr May Jun Jul Aug Sep Oct Nov Dec Forecast $1.73 1.61 1.73 1.87 1.89 1.95 1.93 1.75
Practical Management Science
6th Edition
ISBN:9781337406659
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Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Transcribed Image Text:Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows:
Month
Price Per Chip
Month
Price Per Chip
$1.85
July
January
February
$2.00
$1.85
$1.65
$1.61
August
September
March
$1.60
April
May
$1.85
October
$1.60
$1.88
$1.60
$1.75
November
June
$1.89
December
This exercise contains only parts a, b, and c.
a) Using a 2-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places):
Month
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Forecast
$1.73
1.61
1.73
1.87
1.89
1.95
1.93
1.75
Expert Solution
Step 1
Calculation of 2 month moving averages of the data
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
|
1 |
1.73 |
||||
|
1.73+1.61=3.34 |
3.34÷2=1.67 |
||||
|
2 |
1.61 |
1.67+1.67=3.34 |
3.34÷2=1.67 |
||
|
1.61+1.73=3.34 |
3.34÷2=1.67 |
||||
|
3 |
1.73 |
1.67+1.8=3.47 |
3.47÷2=1.74 |
||
|
1.73+1.87=3.6 |
3.6÷2=1.8 |
||||
|
4 |
1.87 |
1.8+1.88=3.68 |
3.68÷2=1.84 |
||
|
1.87+1.89=3.76 |
3.76÷2=1.88 |
||||
|
5 |
1.89 |
1.88+1.92=3.8 |
3.8÷2=1.9 |
||
|
1.89+1.95=3.84 |
3.84÷2=1.92 |
||||
|
6 |
1.95 |
1.92+1.94=3.86 |
3.86÷2=1.93 |
||
|
1.95+1.93=3.88 |
3.88÷2=1.94 |
||||
|
7 |
1.93 |
1.94+1.84=3.78 |
3.78÷2=1.89 |
||
|
1.93+1.75=3.68 |
3.68÷2=1.84 |
||||
|
8 |
1.75 |
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