??17 3 Fed up with her working conditions at the call center, Lisa decides to invest in a state-of-the-art sewing machine and produce limited quantities of her own clothing designs. After a few months of operation, she decides to apply some of the forecasting techniques she mastered in school. Which of these statements about her forecasts is correct? Since Lisa knows her business, her forecasts will probably be 100% accurate. The best way for her to determine the amount of fabric she needs is to forecast it based on her customer orders for each type of skirt. Her demand forecasts for each style of skirt will be more accurate than her demand forecasts for all skirts. Her demand forecasts for a year from now will probably be more accurate than her demand forecasts for three months from now. A firm’s demand data from the last two quarters is displayed in the table below. Demand January 154 February 148 March 214 April 198 May 225 June 246 The firm wants to use a three period weighted moving average with the following weights to forecast demand for July. Period Weight t-1 0.7 t-2 ?? t-3 0.1 208 235 237 196
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