The accompanying data file contains daily sales (in $) at Caf Venetian for 100 days. For cross-validation,

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The accompanying data file contains daily sales (in $) at Café Venetian for 100 days. For cross-validation, let the training and the validation sets comprise the first 80 days and the last 20 days, respectively. 

a. Use the training set to implement the Holt exponential smoothing method with two sets of user-supplied smoothing parameters, α = 0.20 and β = 0.10 and α = 0.30 and β = 0.20. Compute the resulting MSE, MAD, and MAPE for the validation set.

b. Determine the preferred model and reimplement it with the entire data set to forecast sales for the 101st day  

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Business Analytics Communicating With Numbers

ISBN: 9781260785005

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen

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