Answered step by step
Verified Expert Solution
Question
1 Approved Answer
a . Develop a 4 - month moving average to forecast sales. b . Use exponential smoothing method with alpha = 0 . 3
a Develop a month moving average to forecast sales.
b Use exponential smoothing method with alpha smoothing constant to forecast in kate walsh
come. Assume that the initial forecast for January is $S
c Calculate the error and the absolute error for each forecast and summarize your computations in the table below.
d Compute the MAD as an accuracy measure for evaluating the performance of forecasting method then decide which forecasting method provides a better forecast? Explain
e Use the better of the two methods to forecast sales for January
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