The following data is sales in millions of dollars for the Cassie Cat Company manufactures of grain free canned cat food. Year. 1. 2. 3.
The following data is sales in millions of dollars for the Cassie Cat Company manufactures of grain free canned cat food.
Year. 1. 2. 3. 4. 5. 6. 7
Sales. 20. 22. 26. 24. 30. 28. 32
a, Use a three year moving average to generate a forecast for year 8 and determine its mean square error.
b. Use a smoothing constant 0f .8 to generate a forecast for year 8 and determine its mean square error.
c. Which method is the better?
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