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Monthly sales of flat screen TVs last year at an appliance store areshown below: mum-m January 24 May 2? September 29 February 23 June 22
Monthly sales of flat screen TVs last year at an appliance store areshown below: mum-m January 24 May 2? September 29 February 23 June 22 October 21 March 28 July 26 November 23 April 22 August 20 December 23 Considering that the sales level is relatively stable. plot the data and speculate which of the most basic forecasting methods the last method, the averaging method, or the moving-average method do you feel would be most appropriate for forecasting future sales? Explain your answer. Use the last-value mhod retrospectively to determine what the forecasts would have been for the last 11 months of last year. what are MAD and MSE? Use the averaging method retrospectively to determine what the forecasts would have been for the last 11 months of the year. what are MAD and MSE? Use the moving-average method with n = 3 retrospectively to determine what the forecasts would have been for the last nine months of last year. what are MAD and MSE? Use the MAD values to compare thethree methods and determine the best method. Use the MSE values to compare the three methods and determine the best method. Do you feel comfortable in drawing a definitive conclusion about which of the three forecasting methods should be the most accurate in the future based on these 12 months of data? Explain why or why not
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