- Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Website Visits 537 375 419 277 445 512 670 56 1 (118.31 KiB) Viewed 13 times
Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Website Visits 537 375 419 277 445 512 670 561 705 619 768 645 822 677 1,031 657 983 774 1,210 811 1,137 763 1,225 941 Linear Trend Linear Trend Line: Intercept = Slope = Error Absolute Error Smoothed Forecast Error Absolute Error 3-Month Moving Average Explain. Error #3. A certain small company that runs a small local magazine has decided to raise some money by selling advertising on their website. They would like to be able to provide potential advertisers with a forecast of the site visits for the next two months. The data in the table is the number of site visits for the past 24 months. Which method is the best for forecasting months 25 and 26? Absolute Error Develop a linear trend line forecast, an exponential smoothing forecast (with alpha=0.5), and a 3-month moving average forecast. Compute cumulative error, MAD, and MAPD for all methods. Which method is the best to use to forecast for months 25 and 26? Explain your choice.