Alabama building contracts for a 12-month period (in millions of dollars) are 240, 350, 230, 260, 280,
Question:
a. Compare a 3-month moving average forecast with an exponential smoothing forecast using α = 0.2. Which provides the better forecasts?
b. What is the forecast for the next month?
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a Month TimeSeries Value 3Month Moving Average Forecast Error 2 2 Forecast Error 2 1 240 2 3...View the full answer
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Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
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