Using the data below, what is the 2 period moving average forecast for the 3rd week?

Question

Week Actuals/Time Series Value
1 7.00
2 13.00
3 11.00
4 10.00
Answer format: Number: Round to: 1 decimal places.

Answer 1

To calculate the 2-period moving average forecast for the 3rd week, we take the average of the actual values from the 1st and 2nd weeks.

1. Actual value for Week 1: 7.00
2. Actual value for Week 2: 13.00

The formula for the 2-period moving average is:

\[ \text{Moving Average} = \frac{\text{Value in Week 1} + \text{Value in Week 2}}{2} \]

Substituting the values:

\[ \text{Moving Average} = \frac{7.00 + 13.00}{2} = \frac{20.00}{2} = 10.00 \]

So, the 2-period moving average forecast for Week 3 is 10.0 (rounded to 1 decimal place).

Therefore, the answer is:

10.0