Question: Consider the actual sales shown in Table P-1, along with one-step-ahead forecasts produced by Winters' method and by a regression model. a. Construct the combined

Consider the actual sales shown in Table P-1, along with one-step-ahead forecasts produced by Winters' method and by a regression model.

a. Construct the combined forecasts of sales produced by taking a simple average of the forecasts produced by Winters' method and the regression model.

b. Construct the combined forecasts of sales produced by taking a weighted average of the Winters' forecasts and the regression forecasts with weights w8 and w2=1-w=.2.

c. Using the actual sales, determine the MAPE's for the Winters' forecasts and the regression forecasts.

d. Repeat part e using the combined forecasts from parts a and

b. Based on the MAPE measure, which set of forecasts do you prefer?

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