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Forecasting Approach
Are you guys aware about the forecasting approach given below,
week 1 actual offered volume=w
week 2 actual offered volume=x
week 3 actual offered volume=y
week 4 actual offered volume=z
Week 5 forecast=???
week 1 actual offered volume=w*a%=e
week 2 actual offered volume=x*b%=f
week 3 actual offered volume=y*c%=g
week 4 actual offered volume=z*d%=h
Now the forecasted volume for week 5 is = e+f+g+h
My question is how would we decide the a%,b%,c% and d%. I would assume that we don't have any standard weightage for the industry in case if this approach is valid.
your input and suggestions would be appreciated.
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