Question

Hospitality Hotels forecasts monthly labor needs.
(a) Given the following monthly labor figures, make a forecast for June using a three-period moving average and a five-period moving average.
Month ...... Actual Values
January ........ 32
February ........ 41
March ......... 38
April ......... 39
May .......... 43

(b) What would be the forecast for June using the naïve method?
(c) If the actual labor figure for June turns out to be 41, what would be the forecast for July using each of these models?
(d) Compare the accuracy of these models using the mean absolute deviation (MAD).
(e) Compare the accuracy of these models using the mean squared error (MSE).



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  • CreatedJuly 11, 2014
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