1. Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 15,103 15,253 14,055 16,107 17,763 17,110 19,151 18,358 20,134 Step 1 of 4: Determine the three-period moving average for the next time period. If necessary, round your answer to one decimal place. 2. Consider the following data: Monthly Profit of an Auto Repair Shop May-14 Jun-14 Jul-14 Aug-14 Sep-14 14,055 16,107 17,763 17,110 19,151 18,358 20,134 Month Jan-14 Feb-14 Mar-14 Apr-14 Profit ($) 15,103 15,253 Step 2 of 4: Determine the three-period weighted moving average for the next time period with weights of 3 (most recent), 2 (second latest time period), and 1 (oldest time period). If necessary, round your answer to one decimal place. 3. Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit 15,103 15,253 14,055 16,107 17,763 17,110 19,151 18,358 20,134 ($) Step 3 of 4: Determine the exponential smoothing forecast for the next time period using a smoothing constant of 0.50. If necessary, round your answer to one decimal place. 4. Consider the following data: 5. Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 15,103 15,253 14,055 16,107 17,763 17,110 19,151 18,358 20,134 Step 4 of 4: Which forecasting method is best and why? Answer 1 Point Keypad Keyboard Shortcuts Comparing the forecasts, Weighted Moving Average is best since it has the forecast closest to the latest actual observation. Comparing the MAD scores, Exponential Smoothing is best since the MAD score is lowest. Comparing the forecasts, Weighted Moving Average is best since it has the highest forecast. Comparing the MAD scores, Moving Average is best since the MAD score is highest. Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 16,517 16,667 15,455 17,521 19,163 17,250 19,137 18,512 20,301 Step 1 of 4: Determine the three-period moving average for the next time period. If necessary, round your answer to one decimal place. 6. Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 16,517 16,667 15,455 17,521 19,163 17,250 19,137 18,512 20,301 Step 2 of 4: Determine the three-period weighted moving average for the next time period with weights of 3 (most recent), 2 (second latest time period), and 1 (oldest time period). If necessary, round your answer to one decimal place. 7. Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 16,517 16,667 15,455 17,521 19,163 17,250 19,137 18,512 20,301 Step 3 of 4: Determine the exponential smoothing forecast for the next time period using a smoothing constant of 0.50. If necessary, round your answer to one decimal place. 8. Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 16,517 16,667 15,455 17,521 19,163 17,250 19,137 18,512 20,301 Step 4 of 4: Which forecasting method is best and why? Answer 1 Point Keypad Keyboard Shortcuts Comparing the MAD scores, Exponential Smoothing is best since the MAD score is lowest. Comparing the forecasts, Weighted Moving Average is best since it has the forecast closest to the latest actual observation. Comparing the forecasts, Weighted Moving Average is best since it has the highest forecast. Comparing the MAD scores, Weighted Moving Average is best since the MAD score is highest.