For the data in the Excel file Airport Passengers , do the following a Develop a spreadsheet for forecasting the number of airport passengers using a simple 3 and 5 month moving average b Compare the two models using MAD, MSE, and MAPE error measures Explain which model yields better results and why c Develop a spreadsheet for forecasting the number of airport passengers using simple exponential smoothing with smoothing constants 0 1, 0 5, and 0 9 d Using MAD, MSE, and MAPE as guidance, find the best smoothing constant Date Airport Passengers Jan 15 3 204 637 Feb 15 2 966 477 Mar 15 3 593 364 Apr 15 3 604 104 May 15 3 933 016 Jun 15 4 146 797 Jul 15 4 176 486 Aug 15 4 347 059 Sep 15 3 781 168 Oct 15 3 872 278 Nov 15 3 902 278 Dec 15 4 302 278 Jan 16 2 644 539 Feb 16 2 359 800 Mar 16 2 925 918 Apr 16 3 024 973 May 16 3 177 100 Jun 16 3 419 595 Jul 16 3 649 702 Aug 16 3 650 668 Sep 16 3 191 526 Oct 16 3 249 428 Nov 16 2 971 484 Dec 16 3 074 209 Jan 17 2 785 466 Feb 17 2 515 361 Mar 17 3 105 958 Apr 17 3 139 059 May 17 3 380 355 Jun 17 3 612 886 Jul 17 3 765 824 Aug 17 3 771 842 Sep 17 3 356 365 Oct 17 3 490 100 Nov 17 3 163 659 Dec 17 3 167 124 Jan 18 2 883 810 Feb 18 2 610 667 Mar 18 3 129 205 Apr 18 3 200 527 May 18 3 547 804 Jun 18 3 766 323 Jul 18 3 935 589 Aug 18 3 917 884 Sep 18 3 564 970 Oct 18 3 602 455 Nov 18 3 326 859 Dec 18 3 441 693 Jan 19 3 211 600 Feb 19 2 998 119 Mar 19 3 472 440 Apr 19 3 563 007 May 19 3 820 570

The Answer is in the image, click to view ...

Question: For the data in the Excel file Airport Passengers , do the following: a.Develop a spreadsheet for forecasting the number of airport passengers using a

For the data in the Excel file Airport Passengers, do the following:

a.Develop a spreadsheet for forecasting the number of airport passengers using a simple 3- and 5-month moving average.

b.Compare the two models using MAD, MSE, and MAPE error measures. Explain which model yields better results and why?

c.Develop a spreadsheet for forecasting the number of airport passengers using simple exponential smoothing with smoothing constants 0.1, 0.5, and 0.9.

d.Using MAD, MSE, and MAPE as guidance, find the best smoothing constant.

Date	Airport Passengers
Jan-15	3.204.637
Feb-15	2.966.477
Mar-15	3.593.364
Apr-15	3.604.104
May-15	3.933.016
Jun-15	4.146.797
Jul-15	4.176.486
Aug-15	4.347.059
Sep-15	3.781.168
Oct-15	3.872.278
Nov-15	3.902.278
Dec-15	4.302.278
Jan-16	2.644.539
Feb-16	2.359.800
Mar-16	2.925.918
Apr-16	3.024.973
May-16	3.177.100
Jun-16	3.419.595
Jul-16	3.649.702
Aug-16	3.650.668
Sep-16	3.191.526
Oct-16	3.249.428
Nov-16	2.971.484
Dec-16	3.074.209
Jan-17	2.785.466
Feb-17	2.515.361
Mar-17	3.105.958
Apr-17	3.139.059
May-17	3.380.355
Jun-17	3.612.886
Jul-17	3.765.824
Aug-17	3.771.842
Sep-17	3.356.365
Oct-17	3.490.100
Nov-17	3.163.659
Dec-17	3.167.124
Jan-18	2.883.810
Feb-18	2.610.667
Mar-18	3.129.205
Apr-18	3.200.527
May-18	3.547.804
Jun-18	3.766.323
Jul-18	3.935.589
Aug-18	3.917.884
Sep-18	3.564.970
Oct-18	3.602.455
Nov-18	3.326.859
Dec-18	3.441.693
Jan-19	3.211.600
Feb-19	2.998.119
Mar-19	3.472.440
Apr-19	3.563.007
May-19	3.820.570

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

In 20X0, Marquette County opened a landfill that was expected to accept waste for four years. The following table indicates the estimates county officials made at the end of each of the four years:...

Problem 3 : For the data in the Excel file Airport Passengers, do the following: a . Develop a spreadsheet for forecasting the number of airport passengers using simple exponential smoothing with...

For the data in the excel file closing stocks prices, do the following Develop spreadsheet models for forecasting each of the stock prices using simple 2-period average and simple exponential...

OM 503 Operations Management Special Spring 2022 (2B) -93127 Dashboard / My courses / OM 503 Operations Management Special Spring 2022 (2B) - 93127 / Week 2 - Forecasting / Week 2 Written Assignment...

A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 B C D E F G Estimate Estimation Error Square of Error Template for Linear Regression Time...

Discussion Board Week 3 "Managing in the Global Economy and Outsourcing Offshore" Using Techniques to Forecast Variables of Interest to Business and Foreign Exchange During the Weekly Scenarios Herb...

can anyone help me in answering the case study there is an excel file log attached in this word document and questions are at page 5 A Case Study on Cost Estimation and Profitability Analysis at...

As a manager of a regional airport you need to forecast monthly passenger flow (number of passengers flying in and out) through the airport for planning and budgeting purposes. You have historical...

i need excel answers + explaination 0/1 Questions Answered Judith Johnson is always on the lookout for entrepreneurial opportunities. Living in Six Mile, South Carolina, she recognizes that the...

The He's Hobby Shop carries a line of radio-controlled model racing cars. The daily demand rate is 100. Unit inventory holding cost is estimated at $0.90/year. The shop purchases the model cars from...

Regal Resources owns a 58% interest in a mineral claim. Yukon Explorations owns the remainder. If Regal sells one-fifth of its interest for $1.2 million, what is the implied value of Yukons interest?

Funding for OASDI and Medicare programs requires equal employer and employee contributions under the _ _ _ _ _ _ _ _ _ . Question 3 9 options: Fair Labor Standards Act of 1 9 3 8 Federal Insurance...

2023 1040 form 1.Phillip and Claire are married and file a joint return. Phillip is self-employed as a real estate agent, and Claire is a flight attendant. Phillip and Claire have three dependent...