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The actual demand values for 4 months is known. To calculate the forecasted demand value for 5th month using 4 month moving average method, what will be the weightage given to demand values?
- a)0.25
- b)0.25
Correct answer is between ' 0.25, 0.25'. Can you explain this answer?
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Calculation of Weightage for the 4 Month Moving Average Method
To calculate the forecasted demand value for the 5th month using the 4 month moving average method, we need to determine the weightage given to the demand values. The weightage represents the importance or significance of each demand value in the calculation of the moving average.
The 4 month moving average method involves taking the average of the demand values for the past 4 months to forecast the demand for the next month. Each demand value is given a weightage, which determines its contribution to the moving average calculation.
Determination of Weightage
1. Number of Demand Values: In this method, we consider the demand values for the past 4 months. Therefore, the number of demand values is 4.
2. Equal Weightage: In the 4 month moving average method, equal weightage is given to each demand value. This means that each demand value has the same importance in the calculation of the moving average.
3. Calculation of Weightage: To calculate the weightage, we divide 1 by the number of demand values. In this case, since there are 4 demand values, the weightage would be 1/4.
4. Weightage for the 5th Month: The weightage for the 5th month can be calculated by subtracting the sum of the weightages of the 4 known demand values from 1. Since each demand value has a weightage of 1/4, the sum of the weightages for the 4 known demand values would be 4 * (1/4) = 1.
Therefore, the weightage for the 5th month would be 1 - 1 = 0.
Answer Explanation
Based on the calculation above, the weightage given to the demand values in the 4 month moving average method is 0.25. This weightage is obtained by dividing 1 by the number of demand values, which is 4 in this case.
Therefore, the correct answer is option a) 0.25.
To calculate the forecasted demand value for the 5th month using the 4 month moving average method, we need to determine the weightage given to the demand values. The weightage represents the importance or significance of each demand value in the calculation of the moving average.
The 4 month moving average method involves taking the average of the demand values for the past 4 months to forecast the demand for the next month. Each demand value is given a weightage, which determines its contribution to the moving average calculation.
Determination of Weightage
1. Number of Demand Values: In this method, we consider the demand values for the past 4 months. Therefore, the number of demand values is 4.
2. Equal Weightage: In the 4 month moving average method, equal weightage is given to each demand value. This means that each demand value has the same importance in the calculation of the moving average.
3. Calculation of Weightage: To calculate the weightage, we divide 1 by the number of demand values. In this case, since there are 4 demand values, the weightage would be 1/4.
4. Weightage for the 5th Month: The weightage for the 5th month can be calculated by subtracting the sum of the weightages of the 4 known demand values from 1. Since each demand value has a weightage of 1/4, the sum of the weightages for the 4 known demand values would be 4 * (1/4) = 1.
Therefore, the weightage for the 5th month would be 1 - 1 = 0.
Answer Explanation
Based on the calculation above, the weightage given to the demand values in the 4 month moving average method is 0.25. This weightage is obtained by dividing 1 by the number of demand values, which is 4 in this case.
Therefore, the correct answer is option a) 0.25.
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The actual demand values for 4 months is known. To calculate the forecasted demand value for 5th month using 4 month moving average method, what will be the weightage given to demand values?a) 0.25b) 0.25Correct answer is between ' 0.25, 0.25'. Can you explain this answer?
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