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11 October, 06:55

Dell uses the CR5 chip in some of its laptop computers. The prices for the chip during the past 6 months were as follows:

Month Price per Chip

1 1.78

2 1.67

3 1.70

4 1.75

5 1.70

6 1.67

Use naïve forecast to forecast the price per chip from month 2 to month 6

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Answers (1)
  1. 11 October, 08:41
    0
    Naive forecast from second to sixth month is given as below:

    Explanation:

    Month Price per chip Forecast (naïve)

    2nd month:

    Price per chip=1.67

    Forecast (naïve) = 1.78

    3rd month:

    Price per chip=1.70

    Forecast (naïve) = 1.67

    4th month:

    Price per chip=1.75

    Forecast (naïve) = 1.70

    5th month:

    Price per chip=1.70

    Forecast (naïve) = 1.75

    6th month:

    Price per chip=1.67

    Forecast (naïve) = 1.70
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