Question
1. The following data shows the quarterly profit (in thousands of dollars) made by ABC company in the past 3 years. Year Quarter Profit ($1000s)
1. The following data shows the quarterly profit (in thousands of dollars) made by ABC company in the past 3 years. Year Quarter Profit ($1000s) 1 1 55 1 2 61 1 3 82 1 4 80 2 1 59 2 2 55 2 3 89 2 4 64 3 1 52 3 2 68 3 3 80 3 4 56 a. Use = 0.2 to compute the exponential smoothing values for the time series. Compute Mean Squared Error (MSE) and the forecast of profit (in $1000s) for the next quarter. b. Compare the three-period moving average forecast with the exponential smoothing forecast using = 0.2. c. Which appears to provide the better forecast based on MSE? i need excel sheet for this
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