Question
he following data: Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Profit ($) 16,719 16,869 15,655 17,734 19,363 17,270 19,135 18,534 20,326 Step4of4:
he following data:
| Month | Jan-14 | Feb-14 | Mar-14 | Apr-14 | May-14 | Jun-14 | Jul-14 | Aug-14 | Sep-14 |
|---|---|---|---|---|---|---|---|---|---|
| Profit ($) | 16,719 | 16,869 | 15,655 | 17,734 | 19,363 | 17,270 | 19,135 | 18,534 | 20,326 |
Step4of4:
Which forecasting method is best and why?
Comparing the weighted moving average is best since it has the forecast closest to the latest actual observation.
comparing the MAD scores weighted moving average is best since the MAD score is the highest.
Comparing the MAD scores, Exponential smoothing is the best since the MAD score is the lowest.
Comparing the forecasts, the Weighted moving average is the best since it has the highest forecast.
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
Linear Algebra and Its Applications
Authors: David C. Lay
4th edition
321791541, 978-0321388834, 978-0321791542
