Question: 2. Following data is sourced from the regulatory authorities. Usingthis data, build the below-given forecasting models: Naive Forecast 2 Months moving Average Exponential Smoothing (alpha
2. Following data is sourced from the regulatory authorities. Usingthis data, build the below-given forecasting models:
- Naive Forecast
- 2 Months moving Average
- Exponential Smoothing (alpha =0.3)
Out of the above three, which model will give the most accurate results( Using MAD- Mean Absolute Deviation to compare the models)
| Category | Year | Production |
| Light Commercial Vehicles | 31-03-2006 | 68,922 |
| Light Commercial Vehicles | 31-03-2007 | 65,756 |
| Light Commercial Vehicles | 31-03-2008 | 83,195 |
| Light Commercial Vehicles | 31-03-2009 | 1,08,917 |
| Light Commercial Vehicles | 31-03-2010 | 1,38,890 |
| Light Commercial Vehicles | 31-03-2011 | 1,71,788 |
| Light Commercial Vehicles | 31-03-2012 | 2,25,724 |
| Light Commercial Vehicles | 31-03-2013 | 2,54,049 |
| Light Commercial Vehicles | 31-03-2014 | 2,24,587 |
| Light Commercial Vehicles | 31-03-2015 | 3,17,423 |
| Light Commercial Vehicles | 31-03-2016 | 4,08,193 |
| Light Commercial Vehicles | 31-03-2017 | 5,44,335 |
| Light Commercial Vehicles | 31-03-2018 | 5,53,184 |
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