The following data is sales in millions of dollars for the Cassie Cat Company manufactures of grain
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Question:
The following data is sales in millions of dollars for the Cassie Cat Company manufactures of grain free canned cat food.
Year. 1. 2. 3. 4. 5. 6. 7
Sales. 20. 22. 26. 24. 30. 28. 32
a, Use a three year moving average to generate a forecast for year 8 and determine its mean square error.
b. Use a smoothing constant 0f .8 to generate a forecast for year 8 and determine its mean square error.
c. Which method is the better?
Related Book For
Introduction to Statistical Investigations
ISBN: 978-1118922002
1st edition
Authors: Beth L.Chance, George W.Cobb, Allan J.Rossman Nathan Tintle, Todd Swanson Soma Roy
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