Question
Use the 6-week moving average method to calculate forecasts for all available periods given the data provided in the Excel template. Exercise2 Use the exponential
Use the 6-week moving average method to calculate forecasts for all available periods given the data provided in the Excel template.
Exercise2
Use the exponential smoothing method with alpha = 0.3 to calculate forecasts for all available periods given the data provided in the Excel template.
Exercise 3
Make a "fair" comparison between the above two models by bias and MSE. According to your analysis, which forecasting model is more accurate?
| Moving Average N=6 | Exponential Smoothing | ||||||
| Week | Demand | a= | 0.3 | ||||
| 1 | 650 | ||||||
| 2 | 678 | ||||||
| 3 | 720 | ||||||
| 4 | 785 | ||||||
| 5 | 859 | ||||||
| 6 | 920 | ||||||
| 7 | 850 | ||||||
| 8 | 758 | ||||||
| 9 | 892 | ||||||
| 10 | 920 | ||||||
| 11 | 789 | ||||||
| 12 | 844 | ||||||
| 13 | ? | ||||||
| Bias |
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The Economics Of The Environment
Authors: Peter Berck, Gloria Helfand
1st Edition
978-0321321664, 0321321669
