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(2.2) (18 points) Given the actual sales of an item in the past 8 months same as in (2.1) in the table below, calculate the
(2.2) (18 points) Given the actual sales of an item in the past 8 months same as in (2.1) in the table below, calculate the 3-month moving average forecasts up to month 9, and |forecast errors|. Put the results in the table. (Reminder: Place your moving-average results in the correct rows.) (Keep one digits after decimal point.)
(2.2) (18 points) Given the actual sales of an item in the past 8 months same as in (2.1) in the table below, calculate the 3-month moving average forecasts up to month 9, and forecast errors). Put the results in the table. (Reminder: Place your moving average results in the correct rows.) (Keep one digits after decimal point.) Actual sales Month 3-month moving average forecasts (n=3) Forecast Errors 1 2 3 4 5 6 7 8 9 720 840 750 980 650 820 760 780 Calculate MAD for the above moving average forecasts with n=3: MAD (2.3/4 points) Which is better, n=2 or n=3, in this problem in terms of forecasting accuracy? Briefly explainStep by Step Solution
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