Question 3 The following chart shows the amount of revenue generated by a shop across 11 days. Day 1 2 3 4 5 6 7 8 9 10

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Question 3 The Following Chart Shows The Amount Of Revenue Generated By A Shop Across 11 Days Day 1 2 3 4 5 6 7 8 9 10 1 (80.9 KiB) Viewed 68 times

Question 3 The following chart shows the amount of revenue generated by a shop across 11 days. Day 1 2 3 4 5 6 7 8 9 10 11 Revenue (RM) 574 528 598 534 576 601 587 629 618 632 597 = - 2 3 a) By using the weighted moving average model Xn = 5 Xn-1 + * Xn-2 + - xn-3 , estimate the amount of revenue on Day 12,13 and 14. (7 marks) b) By using exponential smoothing model în = În-1 + a(Xn-1 – În-1) with a = 0.57, estimate the amount of revenue on Day 12. Comment if Day 13 can also be predicted using this model. (6 marks) = - -