Question: Click on the Data Sheet in the next tab. Using the provided data, compute the following 4 tasks: 1- Compute forecasting for that data using
| Click on the Data Sheet in the next tab. | ||||||||
| Using the provided data, compute the following 4 tasks: | ||||||||
| 1- Compute forecasting for that data using 4 methods: | ||||||||
| a- Simple moving average with n= 2 | ||||||||
| b- Weighted moving average with n=4 and weights of 8, 6, 4, and 2 | ||||||||
| c- Exponential smoothing with alpha= 0.1 (assuming initial forecast of 52) | ||||||||
| d- Exponential Smoothing with alpha=0.8 (assuming initial forecast of 52) | ||||||||
| 2- For each of the four forecasting methods, compute the corresponding error for each week, and then compute the overall MAPE for each method | ||||||||
| 3- Which of the four forecasting methods can you say best fit the data? | ||||||||
| Please provide your rationale for your choice | ||||||||
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