Question: table [ [ 2 0 1 6 , 7 7 ] , [ 2 0 1 7 , 8 5 ] , [ 2
table
You want to forecast the average number of economy class passengers per flight for this year Upload an excel sheet showing your calculations and clearly labeled answers to the following questions:
a What would be the forecast for this year using the lastvalue forecasting method?
b What would be the forecast for this year using the averaging forecasting method?
c Determine the forecast for this year using the simple movingaverage method, where the average calculation is based on data for the past five years.
d Determine the forecasts for the past years using exponential smoothing with trend. Use as the value for the first trend, and use as the value for the first smoothed forecast. Use smoothing constants alpha and beta Calculate MAD, MSE, and MAPE. What would be the forecast for this year
e Use regression to develop a forecast for this year
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
