Question: please show all work! 2. (a) Use three-year moving average and (b) use trend projection method to forecast the coal sales. Based on the analysis
2. (a) Use three-year moving average and (b) use trend projection method to forecast the coal sales. Based on the analysis in part (a) and (b), compare the accuracy of the two forecasts including moving average using MAD and MSE, which method moving average or trend projection provides the better forecast? Explain. Coal sales (Millions of Tons) Weather Index 3 450 495 518 563 584 Use the least squares regression method to drive a forecasting equation. What are the estimated coal sales if the severity of weather index is 6 million? 2. (a) Use three-year moving average and (b) use trend projection method to forecast the coal sales. Based on the analysis in part (a) and (b), compare the accuracy of the two forecasts including moving average using MAD and MSE, which method moving average or trend projection provides the better forecast? Explain. Coal sales (Millions of Tons) Weather Index 3 450 495 518 563 584 Use the least squares regression method to drive a forecasting equation. What are the estimated coal sales if the severity of weather index is 6 million
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
