Question: Below question needs to be solved using ExcelOM - Please Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the
Below question needs to be solved using ExcelOM - Please
Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows:
| Month | Price Per Chip ($) |
| January | 1.85 |
| February | 2.28 |
| March | 1.85 |
| April | 2.06 |
| May | 1.90 |
| June | 2.88 |
| July | 1.95 |
| August | 1.84 |
| September | 1.70 |
| October | 1.75 |
| November | 2.12 |
| December | 1.85 |
- (3 points) Use 3 and 4-month moving average on all the data and plot the averages and the prices.
- (3 points) Use 3 and 4-month weighted moving average on all the data and plot the averages and the prices. (0.4, 0.3, 0.3 for 3 month; and 0.5, 0.3, 01, and 0,1 for 4 month)
- (3 points) Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of $1.85. Use = .2, then = .4, and finally = .5.
- (3 points) Compute the forecasts for each month using trend adjusting exponential smoothing, with an initial forecast for January of $1.85 and trend $0.2. Use = .2, and = .4.
- (3 points) Develop a regression relationship.
- (5 points) Compare forecasting methods using MAD, MSE, and MAPE.
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