Question: table [ [ Year , 1 , 2 , 3 , 4 , 5 ] , [ Mileage , 3 , 1 0 0

\table[[Year,1,2,3,4,5],[Mileage,3,100,4,000,3,450,3,800,3,700]]
a) Using a 2-year moving average, the forecast for year 6=3750 miles (round your response to the nearest whole number).
b) If a 2-year moving average is used to make the forecast, the MAD based on this =83.3 miles (round your response to one decimal place).(Hint: You will have only 3 years of matched data.)
d) Using exponential smoothing with =0.20 and the forecast for year 1 being 3,100, the forecast for year 6=3469 miles (round your response to the nearest whole number).
Can you show step by step how they got the answer?
 \table[[Year,1,2,3,4,5],[Mileage,3,100,4,000,3,450,3,800,3,700]] a) Using a 2-year moving average, the forecast for year

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!