Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 2 3 Year Number of Tourists Forecast 1 Error Errorl Error Error | % 4 700 5 2 248 6 3 633 7
1 2 3 Year Number of Tourists Forecast 1 Error Errorl Error Error | % 4 700 5 2 248 6 3 633 7 4 458 8 5 1410 O 6 1588 Values for Weights, Alpha, Intercept and Slope are copied from instructions into cells below. You must use these cells as a reference in your formulas based on the method(s) chosen. If using Simple Moving Average, use these weights. If using Simple Exponential Smoothing use this Alpha. If using Regression use this Intercept and Slope. 10 1629 11 1301 12 9 1455 13 10 1989 14 11 15 Weights 0.2 0.3 Alpha 0.3 MAD MSE MAPE 0.5 Intercept 238.4 Slope 164.13 16 Explain why forecast 1 is appropriate for the data and time frame given: 17 18 19 20 21 22 Year Number of Tourists Forecast 2 Error |Error] Error Error | % In Green Cells, write the name of the forecast type: Simple moving average, Weighted moving average, Simple Exponential Smoothing, Regression 23 700 24 2 248 25 3 633 26 4 458 Light blue cells should have a formula written that references other cells where appropriate (some may be blank depending on forecast type chosen) 27 5 1410 28 6 1588 29 7 1629 8 1301 9 1455 Yellow cells contain your final answers for Year 11 forecast, MAD, MSE, and MAPE 10 1989 11 39 MAD MSE MAPE Explain why forecast 2 is appropriate for the data and time frame given: 0 P Q R
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started