Question
Consider the following data: Month Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Profit ($) 5,450 5,203 4,884 4,517 5,110 5,438 6,019 6,117 5,859
Consider the following data:
Month | Jan-12 | Feb-12 | Mar-12 | Apr-12 | May-12 | Jun-12 | Jul-12 | Aug-12 | Sep-12 |
---|---|---|---|---|---|---|---|---|---|
Profit ($) | 5,450 | 5,203 | 4,884 | 4,517 | 5,110 | 5,438 | 6,019 | 6,117 | 5,859 |
Step 1 of 5: Determine the three-period moving average for the next time period. If necessary, round your answer to one decimal place.
Step 2 of 5: What are the MAD, MSE and MAPE scores for the three-period moving average? Round any intermediate calculations, if necessary, to no less than six decimal places, and round your final answer to one decimal place.
Step 3 of 5: Determine the three-period weighted moving average for the next time period with weights of 3 (most recent), 2 (second recent), and 1 (oldest time period).If necessary, round your answer to one decimal place.
Step 4 of 5: What are the MAD, MSE and MAPE scores for the three-period weighted moving average forecast? Round any intermediate calculations, if necessary, to no less than six decimal places, and round your final answer to one decimal place.
Step 5 of 5:
Based on theMAD scores, which forecast is best?
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