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The owner of Darkest Tans Unlimited in a local mall is forecasting this month's (October's) demand for the one new tanning booth based on the following historical data: Month Number of Visits April 100 May 140 June 110 July 150 August 120 September 160 What is this month's forecast using a four-month weighted moving average with weights of .4, .3, .2, and .1

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pedrocarratore

Answer:

141

Explanation:

The number of visits per month and each month's corresponding weight, for the past four months, are presented bellow:

[tex]\begin{array}{ccc}Month&Visits&Weight\\June&110&0.1\\July&150&0.2\\August&120&0.3\\September&160&0.4\end{array}[/tex]

Using a weighted moving average approach, the forecast for October's visits is:

[tex]V=160*0.4+120*0.3+150*0.2+110*0.1\\V=141\ visits[/tex]

Darkest Tans Unlimited is forecasted to receive 141 visits during October.

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