Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please provide a detailed answer using SimpleExponentialForecasting showing all steps involved, formulas, and all parts of the question solved without using CHATGPT. For a given

Please provide a detailed answer using SimpleExponentialForecasting showing all steps involved, formulas, and all parts of the question solved without using CHATGPT.

  • For a given time series of sales, the training set consists of 50 months. The first five months'data isshowninthe followingtable:
Month Sales SimpleExponential Error
October19 27
November19 31
December19 58
January20 63
February 20 59

A) Computethesalesforecast forJanuary20andFebruary 20basedona simpleexponential method with w= 4. Provide your answers in the table above and show calculations.

B) Compute theforecast errorfortheabove forecast.Provideyouranswers inthetable.

SimpleExponentialForecastingattimet+1:

Ft+1= At+(1- ) Ft

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

Precalculus

Authors: Michael Sullivan

10th Global Edition

1292121772, 1292121777, 978-1292121772

More Books

Students also viewed these Mathematics questions

Question

If X, Y, prove that X 2 Y and Y-Z, X-

Answered: 1 week ago