Kaia wants to forecast weekly sales at Fush. Historical data (in dollars) for 15 weeks are...
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Kaia wants to forecast weekly sales at Fush. Historical data (in dollars) for 15 weeks are shown in the table below. a. Calculate the forecast for Week 16, using - a 2-period moving average (Marks: 2) a 3-period moving average (Marks: 2) b. Compute MSE for the two models and compare the result. (Marks: 4) c. Based on MSE, which model provides the best forecast, and why? (Marks: 2) Week 1 2 3 4 5 6 7 8 Actual sales Week 9 10 11 12 1486 1345 1455 1386 1209 1178 1581 1332 13 14 15 16 Actual sales 1245 1521 1544 1502 1856 1753 1789 Kaia wants to forecast weekly sales at Fush. Historical data (in dollars) for 15 weeks are shown in the table below. a. Calculate the forecast for Week 16, using - a 2-period moving average (Marks: 2) a 3-period moving average (Marks: 2) b. Compute MSE for the two models and compare the result. (Marks: 4) c. Based on MSE, which model provides the best forecast, and why? (Marks: 2) Week 1 2 3 4 5 6 7 8 Actual sales Week 9 10 11 12 1486 1345 1455 1386 1209 1178 1581 1332 13 14 15 16 Actual sales 1245 1521 1544 1502 1856 1753 1789
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson, Wayne Thomas
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