Sales data are displayed in the table. a. Calculate the nave estimator, which is Sales t =
Question:
Sales data are displayed in the table.
a. Calculate the naïve estimator, which is Salest = Salest − 1.
b. Calculate the two-period and three-period moving averages.
c. Calculate the mean absolute deviation for each of the forecasting methods.
Transcribed Image Text:
Month February March April May June July August Sales 224 217 211 239 234 243 238 September 243 October 251 November 259 December 270 Month January February March April May June July August September October Sales 260 284 280 271 302 286 297 301 309 314
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a The nave estimator is a simple forecasting method that predicts the next periods sales will be equal to the current periods salesIn other wordsSales...View the full answer
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