Question: the MAD Part please Problem 15 Your answer is partially correct. Try again. Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Cheeseburger Sales Week 1

the MAD Part pleasethe MAD Part please Problem 15 Your answer is

Problem 15 Your answer is partially correct. Try again. Burger Lover Restaurant forecasts weekly sales of cheeseburgers. Cheeseburger Sales Week 1 3 4 5 354 345 362 321 360 Based on historical observations over the past five weeks, make a forecast for the next period using the following methods: simple average, three-period moving average, and exponential smoothing with a = 0.2, given a forecast of 33B cheeseburgers for the fifth week. Round your answers to 2 decimal places, the tolerance is +/-0.01. Simple average: F8 - T 348.4 3-Period moving average: F6 = 347.66 Exponential smoothing: Fg = 342.4 If actual sales for week 6 turn out to be 372, compare the three forecasts using MAD. Which method performed best? (Calculate your answers using the error only in period 6.) MAD (simple average) - 18.6 MAD (3-period moving average) = 24.67 MAD (exponential smoothing) - 22 Simple average provides the lowest MAD

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!