Question
12. A simple forecasting method for weekly sales of flash drives used by a local computer dealer is to form the average of the
12. A simple forecasting method for weekly sales of flash drives used by a local computer dealer is to form the average of the two most recent sales figures. Suppose sales for the drives for the past 12 weeks were Week: 2 3 72 4 5 132 7 9. 10 92 12 73 1 11 Sales: 86 75 83 65 110 90 67 98 a. Determine the one-step-ahead forecasts made for periods 3 through 12 using this method. b. Determine the forecast errors for these periods. c. Compute the MAD, the MSE, and the MAPE based on the forecast errors computed in part (b).
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Managerial Economics
Authors: Paul Keat, Philip K Young, Steve Erfle
7th edition
0133020266, 978-0133020267
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