Question: Current Situation: Wes and Steve have prepared 4 different forecast techniques against historical data. The result of these efforts are shown in the table below.

Current Situation: Wes and Steve have prepared 4

Current Situation: Wes and Steve have prepared 4 different forecast techniques against historical data. The result of these efforts are shown in the table below. They want to know which approach is the most accurate and should be used going forward. FORECAST DATA 3P WMA 5PMA .6,.3.1 Period 3PMA EX SM.2 1 2 3 Actual 60 63 75 72 81 84 79 4 5 6 66.00 70.00 76.00 79.00 81.33 83.67 87.33 7 60.00 60.30 61.77 62.79 64.61 66.55 67.80 69.82 97.52 69.90 72.00 77.70 81.90 80.70 84.90 91.30 70.20 75.00 78.20 80.80 85.40 8 88 95 9 10 Math Area: 3PMA (3 pts) 5PMA (3 pts) MAD: MSE: MAD: MSE: WMA (3 pts) Exponential Smoothing (3 pts) MAD: MSE: MAD: MSE: Choose which technique for forecasting (2 pts): Why (less than 5 words or zero points) (2 pts)

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