The convention for weighted moving average forecasting is to assign the lowest weight to the most recent data and the highest weight to the oldest data with the reasoning that the most recent data is more relevant.

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Quizplus · Accepted Answer

The convention for weighted moving average forecasting is actually to assign higher weights to more recent data, under the assumption that the most recent data is more relevant and therefore should have a greater influence on the forecast.

The Convention for Weighted Moving Average Forecasting Is to Assign