Math Problem Statement

Using simple moving averages and the following time series data, respond to each of the items.

Period Demand 1 130 2 122 3 121 4 112 5 143 6 105 7 116 8 118 9 142 10 125

What is the error associated with the eleventh-period forecast? (Round your answer to 1 decimal place.)

Solution

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Math Problem Analysis

Mathematical Concepts

Time Series Analysis
Simple Moving Average

Formulas

Simple Moving Average Formula: \( \text{SMA} = \frac{1}{n} \sum_{i=1}^{n} \text{Demand}_i \)

Theorems

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Suitable Grade Level

Advanced High School