Question: 1 - Using the data in following table, table [ [ MoNTH , SALES ] , [ January , 9 0 8 ] ,
Using the data in following table,
tableMoNTHSALESJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
a Compute a month moving forecast of Sales from April through December and for the next month, January. Compute the MAD for the forecast.
b Compute a month moving forecast of Sales from July through December and for the next month, January. Compute the MAD for the forecast.
c Compute a weighted month moving forecast of Sales from April through December and for the next month, January, using weights of most recent data and most distant data Compute the MAD for the forecast.
D Compare the forecasts you computed by using moving forecast model from part and Which forecasting model does a better job?
Using the data from problem
A Compute an exponentially smoothed forecast with alpha through December and create a forecast for the next month, January. Use initial forecast of for January. Find MAD.
B Compute an exponentially smoothed forecast with alpha through December and create a forecast for the next month, January. Use initial forecast of for January. Find MAD.
C Compare the forecasts you computed by using an exponential smoothing model from part a and Which forecasting model does a better job?
Show how to do this in google sheets preferably or excel and and a screenshot of the completed sheet.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
