Question: Question 2 - Using a weighted average of 0.30 [last day], 0.25 [2 days ago] 0.20 [3 days ago], 0.15 [4 days ago], 0.10 [5

Question 2 - Using a weighted average of 0.30 [last day], 0.25 [2 days ago] 0.20 [3 days ago], 0.15 [4 days ago], 0.10 [5 days ago], calculate the forecasts for the last 15 days. In addition, what is the forecast for the Monday of this week?

Question 3 - Assume that the forecast for Monday of 4 weeks ago was 450 units. Using an Exponential Smoothing with 0.25, calculate the daily forecasts for the last 15 days. If is unknown, find the best value of the smoothing coefficient ( ) that results in the lowest MSE.

Question 4 - Using your forecast for the last 15 days in parts (b) and (c), calculate MAD, MSE and MAPE for each forecasting method. Between the forecasting methods in parts (b) and (c), which one would you choose? Why?

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