7. The following historical data have been collected representing sales of a product. Compare forecasts using a three-pe
Posted: Mon May 30, 2022 4:54 pm
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24.96, 27.568, 30.454?
7. The following historical data have been collected representing sales of a product. Compare forecasts using a three-period moving average, exponential smoothing with an a = 0.2, and linear regression. Using MAD and MSE, which forecasting model is best? Are your results the same using the two error measures? Week Demand 1 20 2 31 3 36 4 38 Solution Week Demand 3-period moving average Exponential smoothing Absolute Error Squared Error 1 20 20 11 121 31 36 22.2 13.8 190.44 38 29 24.96 13.04 170.04 42 35 27.568 14.432 208.28 40 38.67 30.454 9.545 2356 4 Absolute Error 9 7 1.33 10 5 6 42 40 Squared Error 81 49 1.78 91.118