Question: Given the data, what is the average forecast error (i.e., mean bias) if you use a 3-period weighted moving average to complete the forecast table?
Given the data, what is the average forecast error (i.e., mean bias) if you use a 3-period weighted moving average to complete the forecast table? In this case, the weights are 0.5, 0.375, and 0.125 with the highest weight being attributed to the most recent data. Month Sales ($) January 3,000 February 3,400 March 3,700 April 4,100 May 4,700 June 5,700 July 6,300 August 7,200 September 6,400 October 4,600 November 4,200 December 5,900 Question Using the same data as in Question 5, what is the mean absolute deviation (MAD) for the data using the 3-period weighted moving average? Question Using the same data as in Question 5, what is the mean squared error (deviation) (MAD) for the data using the 3-period weighted moving average? Question Using the same data as in Question 5, what is the mean absolute percent error (MAPE) for the data using the 3-period moving average? For this case, enter your percentage as a whole number (e.g., 12 as opposed to 12% or 0.12)
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