Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. . . . 1h 26 The dIstance driven by a transport company's truck monthly Is shown below WIth forecasts using 2-month and 3-month moving

image text in transcribed
. . . . 1h 26 The dIstance driven by a transport company's truck monthly Is shown below WIth forecasts using 2-month and 3-month moving averages. Using 2-month moving average Month Actual Forecast |Error| 1 360 2 468 3 450 414 36 4 450 459 9 5 438 450 12 6 444 444 0 7 366 441 75 Using 3-month moving average Month Actual Forecast |Error| 1 360 2 468 3 450 4 450 426 24 5 438 456 18 6 444 446 2 7 366 444 78 b) What is the MAD (MAE) for the 3-month moving average forecasts? a) What is the MAD (MAE) for the 2month moving average forecasts? C] c) Which of the two forecasting methods provides better accuracy? 0 2-month moving average 0 3month moving average 0 neither

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Precalculus, Enhanced

Authors: Cynthia Y Young

3rd Edition

1119339510, 9781119339519

More Books

Students also viewed these Mathematics questions

Question

Relational Contexts in Organizations

Answered: 1 week ago