Question
1. For a given time series of sales, the training set consists of 50 months. The first five months'dataareshowninthe followingtable: Month Sales SimpleExponential Error October19
1. For a given time series of sales, the training set consists of 50 months. The first five months'dataareshowninthe followingtable:
| Month | Sales | SimpleExponential | Error |
| October19 | 27 | ||
| November19 | 31 | ||
| December19 | 58 | ||
| January20 | 63 | ||
| February 20 | 59 |
A) Computethesalesforecast forJanuary20andFebruary 20basedona simpleexponentialmethod with w= 4. Provide your answers in the table above, and please show your calculation
B) Compute theforecast errorfortheabove forecast.Provideyouranswers inthetableabove and please show your calculation
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
Essentials of Business Analytics
Authors: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
2nd edition
1305627733, 978-1305861817, 1305861817, 978-0357688960, 978-1305627734
