Question: ( 3 0 points ) The data on sheet Q 1 provides information on the demand for a product over a period of 9 0

(30 points) The data on sheet Q1 provides information on the demand for a product over a period of 90 days. Use this data to evaluate the following forecasting models:
(\alpha =0.25,\delta =0.0)
(\alpha =0.25,\delta =0.2)
(\alpha =0.25,\delta =0.4)
(\alpha =0.45,\delta =0.1)
(\alpha =0.45,\delta =0.3)
(\alpha =0.45,\delta =0.5)
For all the models, assume that the Forecast without trend for day 1 is the same as the actual demand (4917 units) and the value of trend for day 1 is 0.
Compute the Mean Absolute Percent Error for all six models and provide the information in the table below:
Model MAPE
\alpha \delta
0.250.0
0.250.2
0.250.4
0.450.1
0.450.3
0.450.5
Based on your results above:
Which model would you choose to predict this data? Provide a brief explanation for your choice.
Using the model that you chose as your best model (from part (a)), what is your forecast for day 91?
Would you consider the data to have no trend, weak trend, medium trend, or strong trend? Provide an explanation for your answer.

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