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Prepare a 45 word response to the following: I learned about forecasting techniques in this assignment including the Moving Average and Exponential Smooth models. The
Prepare a 45 word response to the following: I learned about forecasting techniques in this assignment including the Moving Average and Exponential Smooth models. The best weighted average model is the 2 month moving average because the MAPE (Mean Absolute Percentage Error) is the smallest compared to the 3 and 4 month moving average. The best exponential smoothing model showed the lowest percentage error is with constant 0.6 or 0.7 compared to the constants of .01 to .09. I prefer the weighted average model due to the flexibility to assign different weights based on their relevance. The weighted average models provide transparent insights to the forecasting process. However, the exponential smoothing models have their own advantages including simplicity and adaptability
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