Respond to each of the items using the following time series data. a. G raph the time
Question:
Respond to each of the items using the following time series data.
a. G raph the time series data. What do you observe?
b. Compute all possible forecasts using exponential smoothing with a smoothing coefficient (α) of 0.3.
c. Compute all possible forecasts using exponential smoothing with a smoothing coefficient (α) of 0.7.
d. Compute the MADs for each forecast model.
e. Which forecast model would you choose? Why?
Transcribed Image Text:
Period Demand Period Demand 1 20 8 34 2 46 9. 39 3 20 10 4 4 11 30 17 12 23 8 13 10 7 19 14 27
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Related Book For
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
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