Question: 2 . ( 1 2 pts . ) Implement the TES method to calculate the one - day - ahead forecasts for 8 - April

2.(12 pts.) Implement the TES method to calculate the one-day-ahead forecasts for 8-April-2019 to 15-Aug-2019. Assume a weekly seasonal pattern, which means p =7. Use solver to determine the values of LS, TS, and SS that minimize the within-sample RMSE (calculated based on the interval 8-April-2019 to 15-Aug-2019), subject to the constraint that LS, TS, and SS are between 0.01 and 0.99. Report the following: (2 pts. feasibility, 1 pt. consistency, 2 pts. optimality) Optimal values for LS, TS, SS, and the RMSE for 8-April-2019 to 15-Aug-2019,(7 pts.) Values of the level, trend, seasonality indices, one-day-ahead forecasts for 9-Aug-2019 to 15-Aug-2019. Hint: You may find the Weekday function useful for the TES forecast calculations. * You can use the following information to confirm that you have set up your TES model correctly: If you set LS = TS = SS =0.5, the value for level, trend, seasonality index and TES forecast for 15-Aug-2019 should be 168.92,-0.39,1.01, and 169.56, respectively. And the within-sample RMSE should be 27.0830. Part 2: Out-of-sample comparison Second, we will perform an out-of-sample comparison of DES and TES, based on the forecasts for 16-Aug-2019 to 31-pug-2019. This is our hold-out data so we are going to treat it as the future. This means the learning phase ends on 15-Aug-2019 and the prediction phase starts on 16-Aug-2019.3.(8 pts.) Implement the DES method to obtain the k-day-ahead forecasts for 16-Aug-2019 to 31-Aug-2019. Use the same values of LS and TS that you found in Question 1. The difference is that now you must stop updating the level and trend after 15-Aug-2019. Report the following: (7 pts.) DES Forecasts for 16-Aug-2019 to 31-Aug-2019,(1 pt.) The RMSE of DES method for 16-Aug-2019 to 31-Aug-2019.4.(8 pts.) Implement the TES method to obtain the k-day-ahead forecasts for 16-Aug-2019 to 31- Aug-2019. As before, assume a weekly seasonal pattern, with p =7, and use the same values of LS, TS, and SS that you found in Question 2. The difference is that now you must stop updating the level, trend, and seasonal indices after 15-Aug-2019. Report the following: (7 pts.) TES Forecasts for 16-Aug-2019 to 31-Aug-2019.(1 pt.) The RMSE of TES method for 16-Aug-2019 to 31-Aug-2019.5.(for practice, will not be marked) Which method do you choose?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!