Question: A company records reported below indicate monthly sales data for XYZ Company. Use the below mentioned techniques to help the administration: Month Sales (units) October
- A company records reported below indicate monthly sales data for XYZ Company. Use the below mentioned techniques to help the administration:
| Month | Sales (units) |
| October | 9 |
| November | 11 |
| December | 13 |
| January | 13 |
| February | 14 |
| March | 14 |
| April | 15 |
| May | 16 |
| June | 18 |
| July | 20 |
- Compute and explain the 2-month moving average.
- Calculate exponential smoothing with smoothing constant 0.4 and forecast value 12 for the first period. Briefly explain.
- Use RMSE model and decide which technique (simple moving average or exponential smoothing) is better? Briefly explain.
- Plot the monthly data, moving averages and exponential smoothing estimates on a line graph. Briefly explain the pattern.
Do not use excel to answer this , solve it by giving all solutions and explanation , otherwise I will downvote.
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
