Martin Guenther, the manager of Lloyds Savings Bank (fictitious) in Hamburg, Germany, wants to forecast the number of new checking accounts that will be opened in the next 2 months. He has data for the past 12 months on new checking accounts opened, which is shown in the following table:
Martin Guenther, the manager of Lloyd's Savings Bank (fictitious) in Hamburg, Germany, wants to forecast the number of new checking accounts that will be opened in the next 2 months. He has data for the past 12 months on new checking accounts opened, which is shown in the following table: Month 1 2 3 4 5 6 7 8 9 10 11 12 New Checking Accounts 120 144 178 228 245 252 255 262 277 282 290 295 Round your answers to two decimal places. a. Forecast the number of new checking accounts that will be opened in Month 13 using trend-adjusted exponential smoothing with a=0.4 and 8 = 0.5. Assume that the forecast for Month 2 (F2) is the nave forecast and the trend factor for Month 2 is T2 = 0. The forecasted number of new checking accounts for Month 13 is Number b. Forecast the number of new checking accounts that will be opened in Month 13 using a linear trend equation. The forecasted number of new checking accounts for Month 13 is Number c. Which of the two forecasting methods is more accurate? Use the MAPE to answer the question. MAPE EXP= Number % MAPE Linear = Number % o Linear trend analysis is more accurate. Trend-adjusted exponential smoothing is more accurate. Martin Guenther, the manager of Lloyd's Savings Bank (fictitious) in Hamburg, Germany, wants to forecast the number of new checking accounts that will be opened in the next 2 months. He has data for the past 12 months on new checking accounts opened, which is shown in the following table: Month 1 2 3 4 5 6 7 8 9 10 11 12 New Checking Accounts 120 144 178 228 245 252 255 262 277 282 290 295 Round your answers to two decimal places. a. Forecast the number of new checking accounts that will be opened in Month 13 using trend-adjusted exponential smoothing with a=0.4 and 8 = 0.5. Assume that the forecast for Month 2 (F2) is the nave forecast and the trend factor for Month 2 is T2 = 0. The forecasted number of new checking accounts for Month 13 is Number b. Forecast the number of new checking accounts that will be opened in Month 13 using a linear trend equation. The forecasted number of new checking accounts for Month 13 is Number c. Which of the two forecasting methods is more accurate? Use the MAPE to answer the question. MAPE EXP= Number % MAPE Linear = Number % o Linear trend analysis is more accurate. Trend-adjusted exponential smoothing is more accurate
