Question: forecasting please show each step CBA Oeste Mag Spring 2030 TYPE: 3. Ch. 4. Business Forecasting - Decision Making on Forecasting Models Alexa is a
forecasting
CBA Oeste Mag Spring 2030 TYPE: 3. Ch. 4. Business Forecasting - Decision Making on Forecasting Models Alexa is a department manager at a local department store. He took statistics and operations management in college and has recently forecast sales of toasters using a combination of forecasting methods and his expertise/experiences as below: (10 pts) Unit 1000 Manager's Forecast Naive Forecast 3 Mon. Moving Avg. 3 Mon. Weighted MA. Exp. Smoothing ( 4) No Month Un Manager Frror Frror Naveromori SMA Error Error WMA Error Erol EXP Error Error Sale Forecast 55.00 -3.00 3.00 2 February 61 53.07207.20 3 Manch71 56.68 1632 16.32 4 April 3 -28 28 62.00 -17.00 17.00 66.67 -2167 2167 63.21 -18.211 18:21 -13 13 59.57 6.33 6.33 56.11 9.89 9.89 55.92 10.08 10.08 16 5 15 61.33 -10,33 10.33 59.788.78 8.78 59.95 8.95 8.95 17 July 17 17 54.00-20.00 20.00 55.33 -21.38 21.33 56.37 22.37 22.37 - 3 3 50.33 -6.336.33 43.22 0.78 0.78 47.42 3.42 3.42 | 9 September 30 1 14 4 3.00 - 13.00 13.00 41.44 -11.44 1144 46.05 -16 05 16.05 10 October 65 35 36,00 29.00 29.00 35.11 29.89 29.89 39.63 25.37 25.37 11 November 89 34 46.33 42.67| 42.67 51.00 38.00 38.00 49.7839.22 39.22 12 December 7 Based on the forecasting error, Mean Absolute Deviation (MAD) for the manager's forecast and all the other forecasts, which method seems the most accurate method and the least accurate among proposed forecasting approaches? Why? (Please state your reasons using the forecasting errors.) [You don't have to calculate any statistical measures or indexes.)
please show each step
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
