Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello, i just need help with part c, where it asks The MAD for the forcast develiprd using a weighted 2-year moving adverage with weights

hello, i just need help with part c, where it asks "The MAD for the forcast develiprd using a weighted 2-year moving adverage with weights of 0.40 and 0.60 = __ miles"
I included my spreadsheets if that helps, thanks! image text in transcribed
image text in transcribed
a) Using a 2-year moving average, the forecast for year 6=3775 miles (round your response to the nearest whole number). b) If a 2 your moving average is used to make the forecast, the MAD based on this = 58.3 mlles (round your response to one decimal place). (Hint: You wil have anly 3 ywars of matahed date.) c) The forecast for year 6 ubing a weighted 2-year moving average with woights of 0.40 and 0.60 (the woight of 0.60 is for the most recent period) * 3770 mies found your response to the nearost whole numbor). The MAD for the forecast deveioped using a weighted 2 -year moving average wath weights of 0.40 and 0.60= miles (round your response to one decimat place). (hink. You wili have only 3 years of mstched data.) Year \begin{tabular}{|r|r|r|r|} \hline & Mileage & Two Year Moving Ave Forcast Erort \\ \hline 1 & 3,050 & & \\ \hline 2 & 3950 & & \\ \hline 3 & 3500 & 3,500 & 0 \\ \hline 4 & 3800 & 3725 & 75 \\ \hline 5 & 3750 & 3650 & 100 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective small business management An Entrepreneurial Approach

Authors: Norman M. Scarborough

10th Edition

132157462, 978-0132157469

More Books

Students also viewed these General Management questions