Answer Happy

on 1 answered Management of Bainona Manufacturing Company wishes to choose a statistical forecasting method for forecasting sales for the company Total sales (in Millions of dollars) for each month of last year are shown below out of 12.00 question Period Month Sales 1 January 170 2 February 172 3 March 165 4 April 177 5 May 180 6 June 182 7 July 172 8 August 173 9 September 174 10 October 180 11 November 190 12 December 196
a) Calculate the Three-month moving average forecast for periods 4 through 12. Period Month Sales Forecast 1 January 170 2 February 172 3 March 165 4 April 177 5 May 180 6 June 182 7 July 172 8 August 173 September 174 10 October 180 11 November 190 12 December 196
12 December 196 b) Calculate the weighted moving average forecast for periods 4 through 12 using weights of 0.6, 0.3, and 0.1 Period Month Sales Forecast 1 January 170 2 February 172 3 March 165 4 April 177 May 180 6 June 182 7 July 172 8 August 173 9 September 174 10 October 180 11 November 190 12 December 196
My Dispense Academic Calendar My courses C) Calculate the exponentially smoothed forecast for periods 4 through 12, using a forecast for period 3 (March) of 170 and an alpha of 0.3 Period Month Sales Forecast 1 January 170 2 February 172 3 March 165 4 April 177 5 May 180 6 June 182 7 July 172 8 August 173 September 174 10 October 180 11 November 190 12 December 196
12 December 196 d) Calculate the mean absolute deviation (MAD) and the Mean Squared Error (MSE) for each method Three-month moving-average Weighted moving average Exponentially smoothed MAD Three-month moving average Weighted moving average Exponentially smoothed you select? 11
e) Which forecasting method would you select?