Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following table summarizes car sales by month. a - Determine the forecast for the months of July to December using the moving average based
The following table summarizes car sales by month.
a Determine the forecast for the months of July to December using the moving average based on
months assume the current ones for the months of July to December as and
b Determine the forecast error for each month.
c Use the MAD to estimate the future error of the forecasts.
dExplain the relationship of your prognosis with the result you obtained from the MAD.
Using the sales values from problem
a Forecast through December with the threemonth "Weighted Moving Average" with the following
weights:
bDetermine the forecast error per month.
c Determine variation with the MSE.
Using the sales values from problem
a Forecast from July to December using exponential smootting with Assume the June
forecast is
b Determine the forecast error per month.
c What will be the percentage of variation using MAPE?
d Evaluate the forecast with and
e Which of the three alpha values would you choose to forecast?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started