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The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108
‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?
- a)X > Z > Y
- b)Z < x="" />< />
- c)Z > X > Y
- d)X < z="" />< />
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’...
Z = F7 = 108 + 3 = 111(Common difference)
∴ Z > X > Y
Most Upvoted Answer
The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’...
Z = F7 = 108 + 3 = 111(Common difference)
∴ Z > X > Y
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The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’...
The relation between X, Y, and Z can be determined by analyzing the different forecasting methods used to obtain each value. Let's break down each method and understand how they are obtained:
1. 3 Month Moving Average Method (X):
To calculate X, the 3 month moving average method is used. This method involves taking the average of the demand for the last 3 months. In this case, the demand for the 7th, 6th, and 5th weeks are considered. Therefore, X is the average of 105, 102, and 99, which is (105 + 102 + 99)/3 = 102.
2. 4 Month Moving Average Method (Y):
To calculate Y, the 4 month moving average method is used. This method involves taking the average of the demand for the last 4 months. In this case, the demand for the 7th, 6th, 5th, and 4th weeks are considered. Therefore, Y is the average of 108, 105, 102, and 99, which is (108 + 105 + 102 + 99)/4 = 103.5.
3. Regression Analysis Method (Z):
The regression analysis method involves fitting a regression model to the historical demand data and using this model to predict future demand. The specific details of the regression model used are not provided in the question. However, based on the given options, it can be inferred that the forecasted demand for the 8th week using this method is greater than X and Y.
Relation between X, Y, and Z:
Based on the calculations, we have:
X = 102
Y = 103.5
Since the question states that Z is greater than X and Y, we can conclude:
Z > X > Y
Therefore, the correct answer is option C: Z > X > Y.
1. 3 Month Moving Average Method (X):
To calculate X, the 3 month moving average method is used. This method involves taking the average of the demand for the last 3 months. In this case, the demand for the 7th, 6th, and 5th weeks are considered. Therefore, X is the average of 105, 102, and 99, which is (105 + 102 + 99)/3 = 102.
2. 4 Month Moving Average Method (Y):
To calculate Y, the 4 month moving average method is used. This method involves taking the average of the demand for the last 4 months. In this case, the demand for the 7th, 6th, 5th, and 4th weeks are considered. Therefore, Y is the average of 108, 105, 102, and 99, which is (108 + 105 + 102 + 99)/4 = 103.5.
3. Regression Analysis Method (Z):
The regression analysis method involves fitting a regression model to the historical demand data and using this model to predict future demand. The specific details of the regression model used are not provided in the question. However, based on the given options, it can be inferred that the forecasted demand for the 8th week using this method is greater than X and Y.
Relation between X, Y, and Z:
Based on the calculations, we have:
X = 102
Y = 103.5
Since the question states that Z is greater than X and Y, we can conclude:
Z > X > Y
Therefore, the correct answer is option C: Z > X > Y.
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The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?a) X > Z > Yb) Z c) Z > X > Yd) X Correct answer is option 'C'. Can you explain this answer?
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The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?a) X > Z > Yb) Z c) Z > X > Yd) X Correct answer is option 'C'. Can you explain this answer? for Mechanical Engineering 2024 is part of Mechanical Engineering preparation. The Question and answers have been prepared according to the Mechanical Engineering exam syllabus. Information about The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?a) X > Z > Yb) Z c) Z > X > Yd) X Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Mechanical Engineering 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?a) X > Z > Yb) Z c) Z > X > Yd) X Correct answer is option 'C'. Can you explain this answer?.
The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?a) X > Z > Yb) Z c) Z > X > Yd) X Correct answer is option 'C'. Can you explain this answer? for Mechanical Engineering 2024 is part of Mechanical Engineering preparation. The Question and answers have been prepared according to the Mechanical Engineering exam syllabus. Information about The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?a) X > Z > Yb) Z c) Z > X > Yd) X Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Mechanical Engineering 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The demand for 7 weeks is as follows 90, 93, 96, 99, 102, 105, 108‘X’ is the forecasted demand for the 8th week using 3 month moving average method. ‘Y’ is the forecasted demand for the 8th week using 4 month moving average method. ‘Z’ is the forecasted demand for the 8th week using regression analysis. What would be the relation between X, Y, Z?a) X > Z > Yb) Z c) Z > X > Yd) X Correct answer is option 'C'. Can you explain this answer?.
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