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Please see attached for question to solve. The U.S. Census Emaau publishes data on factory orders for all manufacturing, durable goods. and nondurahle goods industries.
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The U.S. Census Emaau publishes data on factory orders for all manufacturing, durable goods. and nondurahle goods industries. Shown below are factory orders it the United States over a 13-year period [3 billion}. First. use the data to develop forecasts for years 3 tfvough 13 using a ayear moving average. Then, use the data to develop forecasts for years 3 through 13 using a 5-year weighted moving average. Weight the most recent year by 5, the previous year by 4, the year before that by 3. and the other years by 1. Answer the following questions: What is the forecast for year 13 based on the 5year moving average? What is the forecast for year 13 based on the 5year weighted moving average?II What is the lleD for the moving average forecast? What is the use for the weighted moving average foraecast'iII . Which forecasting model is better? weer-re IStep by Step Solution
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