Shown here are the median total incomes for couples with two children. a. Use these data to

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Shown here are the median total incomes for couples with two children.image



a. Use these data to develop forecasts for the year 2018 using a 5-year moving average.


b. Use these data to develop forecasts for the year 2018 using a 5-year weighted moving average. Weight the most recent year by 6, the previous year by 4, the year before that by 2, and the other years by 1.


c. Compute the errors of the forecasts in parts (a) and (b) and observe the differences in the errors of the forecasts.

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Business Statistics For Contemporary Decision Making

ISBN: 9781119577621

3rd Canadian Edition

Authors: Ken Black, Ignacio Castillo

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