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All data provided! Thank you! Hospitality Hotels forecasts monthly labor needs. a. Given the following monthly labor figures, make a forecast for June using a
All data provided! Thank you!
Hospitality Hotels forecasts monthly labor needs. a. Given the following monthly labor figures, make a forecast for June using a three-period moving average and a five-period moving average. (Round answers to 2 decimal places, eg. 15.25.) 3-Period Moving Average 5.Period Moving Average b. What would be the forecast for June using the naive method? Forecast for June c. If the actual labor figure for June turns out to be 46 , what would be the forecast for July using each of these models? (Round c. If the actual labor figure for June turns out to be 46 , what would be the forecast for July using each of these models? (Round answers to 2 decimal places, es. 15.25.) d. Compare the accuracy of these models using the mean absolute deviation (MAD). (Round answers to 2 decimal places, es. 15.25.) MAD (3-period) MAD (5-period) MAD (naive) e. Compare the accuracy of these models using the mean squared error (MSE). (Round answers to 2 decimal places, es. 15.25.) MSE (3-period) MSE (5-period) MSE (naive) Step by Step Solution
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