Problems 3,4,5
In Problem 5, you need to calculate MAD and MSE for EACH of the three forecasts and compare which is better.
Please submit the Excel file and clearly label each problem.
2. The rate for 2016 NFLATION e demand. Den Comput ationale for l ary 2017 using the exponential forecast with a 3 and 05. Assume that the forecast for February 2016 What is the MAD for each of the forecastsgated using the expo moothing method which method is better? The owner of the Chocolate Outlet Store wants to forecast chocolate demant for the preceding four years is shown in the following the DEMAND POUNDS Forecast demand for years using the following approaches (1) a three-year movie average (2) a three-year weighted moving average using 0.0 for year 4.0.20 for and 0.40 for year 2, and (3) exponential smoothing with a Jo, and assuming the forecast for period 1 68.000 4. Monthly demand for Accugolf top-rated golf balls in dozens for the last twelve months are shown below: MONTH INFLATION INFLA INFLATION MONTH a. Develop a simple regression model for sales of golf balls. What is the forecast for sales of golf balls in January of the upcoming year! S. The forecasts generated by three forecasting methods and actual demand for the Toe rance Company are as follows MONTH DEMAND FORECAST FORECAST 2 FORECAST) Compute the MSE and MAD for each forecasting method. Whic Farecasting method is the best? Would your decision on which forecasting method s better depend on which forecasting accuracy measure (MAD or MSE) is select 2. The rate for 2016 NFLATION e demand. Den Comput ationale for l ary 2017 using the exponential forecast with a 3 and 05. Assume that the forecast for February 2016 What is the MAD for each of the forecastsgated using the expo moothing method which method is better? The owner of the Chocolate Outlet Store wants to forecast chocolate demant for the preceding four years is shown in the following the DEMAND POUNDS Forecast demand for years using the following approaches (1) a three-year movie average (2) a three-year weighted moving average using 0.0 for year 4.0.20 for and 0.40 for year 2, and (3) exponential smoothing with a Jo, and assuming the forecast for period 1 68.000 4. Monthly demand for Accugolf top-rated golf balls in dozens for the last twelve months are shown below: MONTH INFLATION INFLA INFLATION MONTH a. Develop a simple regression model for sales of golf balls. What is the forecast for sales of golf balls in January of the upcoming year! S. The forecasts generated by three forecasting methods and actual demand for the Toe rance Company are as follows MONTH DEMAND FORECAST FORECAST 2 FORECAST) Compute the MSE and MAD for each forecasting method. Whic Farecasting method is the best? Would your decision on which forecasting method s better depend on which forecasting accuracy measure (MAD or MSE) is select
