The number of fishing rods selling each day is given below. Perform analyses of the time series
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Question:
The number of fishing rods selling each day is given below. Perform analyses of the time series to determine which model should be used for forecasting.
a. 3 day moving average analysis
b. 4 day moving average analysis
c. 3 day weighted moving average analysis with weights w1=0.2, w2=0.3 and w3=0.5 with w1 on the oldest data
d. exponential smoothing analysis with a = 0.3.
e. Which model provides a better fit of the data?
f. Forecast day 13 sales of fishing rods using the model chosen in part (e).
Day
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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