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please give reasoning behind the answer For the following table, kindly state which forecast is the best overall forecast using the results of the error
please give reasoning behind the answer
For the following table, kindly state which forecast is the best overall forecast using the results of the error methods results shown below for the various forecast identified. (1 mark) Table 2 - Showing the various Forecasting techniques and their corresponding error methods. exponentia 1 smoothing 525.81 ERRORS Simple Moving Average 94.24 954.133 7 25% nave 52.83 1063.54 3 28% ME seasonal & trend 202.75 1152.35 seasonal 8355.16 11336.2 regression (seasonality ) 141.44 761.238123 7 23% 957.986187 27% 446% 40% RMSE MAPE U-THEILS STATISTICS 1.00 0.87 0.90 11.04 1.08 0.72 . Does the data show Positive bias (under-forecasting) or Negative bias (over-forecasting)? (1 mark) For the following table, kindly state which forecast is the best overall forecast using the results of the error methods results shown below for the various forecast identified. (1 mark) Table 2 - Showing the various Forecasting techniques and their corresponding error methods. exponentia 1 smoothing 525.81 ERRORS Simple Moving Average 94.24 954.133 7 25% nave 52.83 1063.54 3 28% ME seasonal & trend 202.75 1152.35 seasonal 8355.16 11336.2 regression (seasonality ) 141.44 761.238123 7 23% 957.986187 27% 446% 40% RMSE MAPE U-THEILS STATISTICS 1.00 0.87 0.90 11.04 1.08 0.72 . Does the data show Positive bias (under-forecasting) or Negative bias (over-forecasting)? (1 mark)Step by Step Solution
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