Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mariah Henderson is a WCU student who has just finished her junior year. The data summarizes her grade point average (GPA) for each of the

Mariah Henderson is a WCU student who has just finished her junior year. The data summarizes
her grade point average (GPA) for each of the last 9 semesters.
a) Compute the forecasts using the naïve forecasting method. What is the MAD?
b) Compute the forecast for Senior Year – Fall Semester using the naïve forecasting method.
c) Compute the forecasts using the two-period moving average. What is the MAPE?
d) Compute the forecast for Senior Year – Fall Semester using the two-period moving average.
e) Compute the forecasts using the three-period weighted moving average using weights of 0.4,
0.35, and 0.25. What is the MSE?
f) Compute the forecast for Senior Year – Fall Semester using the three-period weighted moving
average using weights of 0.4, 0.35, and 0.25.
g) Compute the forecasts using exponential smoothing with a smoothing constant of 0.25 and a
forecast for First Year – Fall Semester of 2.60. What is the MAPE?
h) Compute the forecast for Senior Year – Fall Semester using exponential smoothing with a
smoothing constant of 0.25 and a forecast for First Year – Fall Semester of 2.60.
i) Create a tracking signal plot for the two-period moving average data. Does the chart indicate
that this method accurately predicts the data (does the data fall within ± 4 MAD)?
j) Comparing one of the error measurements (MAD, MSE, or MAPE) – which is the best forecasting
method? Which is the worst forecasting method?

YearSemesterGPA
First YearFall2.65
Winter2.93
Spring2.87
SophomoreFall3.05
Winter3.42
Spring3.29
JuniorFall3.3
Winter3.6
Spring3.25

Step by Step Solution

3.47 Rating (154 Votes )

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

Managerial Decision Modeling With Spreadsheets

Authors: Nagraj Balakrishnan, Barry Render, Jr. Ralph M. Stair

3rd Edition

136115837, 978-0136115830

More Books

Students also viewed these Accounting questions