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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