Question

Using a weighted moving average with weights of 0.60, 0.30, and 0.10, find the july forecast ?

Answer 1

To find the July forecast using a weighted moving average with weights of 0.60, 0.30, and 0.10, you would need historical data for previous months.

Step-by-step explanation:

To find the July forecast using a weighted moving average with weights of 0.60, 0.30, and 0.10, you would need historical data for previous months. Let's say you have data for January, February, March, and April. The formula for weighted moving average is:

Forecast = (Weight1 * Data1) + (Weight2 * Data2) + (Weight3 * Data3) + ...

Using the given weights, you would multiply the data for each month by its respective weight and add them up to get the forecast for July.