Use the following time-series data to answer the given questions. a. Develop forecasts for periods 5 through
Question:
Use the following time-series data to answer the given questions.
a. Develop forecasts for periods 5 through 10 using 4-month moving averages.b. Develop forecasts for periods 5 through 10 using 4-month weighted moving averages. Weight the most recent month by a factor of 4, the previous month by 2, and the other months by 1.c. Compute the errors of the forecasts in parts (a) and (b) and observe the differences in the errors forecast by the two different techniques.
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a b c Comparing MAD in a with MAD in b we conclude that the fourmonth mov...View the full answer
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Related Book For 
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo
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