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Question 2 (25%) Based on the following historical sales records of a cosmetics shop: 2.1) 2.2) 2.3) Table 2 Date Sales 04/11/2021 157 05/11/2021
Question 2 (25%) Based on the following historical sales records of a cosmetics shop: 2.1) 2.2) 2.3) Table 2 Date Sales 04/11/2021 157 05/11/2021 201 06/11/2021 804 07/11/2021 0 08/11/2021 09/11/2021 215 218 Derive an (one-day-ahead) prediction for the items sold on Monday 08/11/2021 using an SMA(2) and an EWMA( = 0.4) model. (10%) Calculate the forecast error. (5%) Discuss possible deviations in the quality of the forecast provided by the two models. Give intuition for your results based on each model's design. (10%)
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