Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(20 points) An electric company has the following average monthly price for a customer the past 10 months. Month Sale Price 1 174.52 2 169.90
- (20 points) An electric company has the following average monthly price for a customer the past 10 months.
Month | Sale Price |
1 | 174.52 |
2 | 169.90 |
3 | 165.38 |
4 | 163.63 |
5 | 165.46 |
6 | 168.10 |
7 | 168.45 |
8 | 165.67 |
9 | 164.12 |
10 | 170.2 |
- Computetheexponentiallysmoothedforecastwith= 0.40
- Theadjustedexponentiallysmoothedforecastwith=0.40and=0.30
- Thelineartrend lineforecast.
- ComparetheaccuracyofthethreeforecastsusingcumulativeerrorandMAD, and indicate which forecast appears to be most accurate.
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