Supervision in the Hospitality Industry- AHLEI Practice Test

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In a moving average time series approach, if sales were $2,000, $3,000, and $2,500 over the last three weeks, what is the sales forecast for the upcoming week?

A. $2,000
B. $2,500
C. $2,750
D. $3,000

The correct answer is: B. $2,500

In a moving average time series approach, the forecast for the upcoming week is calculated by taking the average of the sales figures from the recent past. In this case, you are given sales figures for the last three weeks: $2,000, $3,000, and $2,500. To find the forecast, you add these sales figures together and then divide by the number of weeks, which is three: 1. $2,000 + $3,000 + $2,500 = $7,500 2. $7,500 ÷ 3 = $2,500 This calculation yields an average of $2,500, which represents the sales forecast for the upcoming week. This method is widely used in the hospitality industry and other sectors because it smooths out fluctuations and provides a clearer view of underlying trends by focusing on the most recent data points. This approach is straightforward and effective for analyzing time series data to predict future sales, making $2,500 the correct choice.