The owner of a convenience store near Salt Lake City in Utah has been tabulating weekly sales
Question:
The owner of a convenience store near Salt Lake City in Utah has been tabulating weekly sales at the store, excluding gas. The accompanying table shows a portion of the sales for 30 weeks.
a. Use the 3-period moving average to forecast sales for the 31st week.
b. Use simple exponential smoothing with α = 0.3 to forecast sales for the 31st week.
c. Which is the preferred technique for making the forecast based on MSE, MAD, and MAPE?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a b c The exponential is preferred because it leads to the smallest value for all th...View the full answer
Answered By
Zablon Gicharu
I am an educator who possesses the requisite skills and knowledge due to interacting with students for an extended period. I provide solutions to various problems in step-by-step explanations, a well-thought approach and an understandable breakdown. My goal is to impart more straightforward methodologies and understanding to students for more remarkable achievements.
4+ Reviews
10+ Question Solved
Related Book For 
Business Analytics Communicating With Numbers
ISBN: 9781260785005
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen
Question Posted:
