Question: the variable we will be using is the max temperature for each month of the year 2019 Jan Feb March April May June July August
the variable we will be using is the max temperature for each month of the year 2019
| Jan | Feb | March | April | May | June | July | August | September | October | November | December | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 | 60 | 65 | 75 | 81 | 91 | 92 | 97 | 93 | 94 | 95 | 63 | 60 |
- Using the Time Series Forecasting Templates, determine the following for the selected variable:
A: moving average, weighted moving average, and exponential smoothing (see the video in the Module 5 LiveBinder for additional information).
B: the number of periods used in the moving average method.
C: the weights used in the weighted moving average.
D: the value of used in exponential smoothing.
2. Copy/paste the results of each method into your post. Be sure to state:
A: the number of periods used in the moving average method.
B: the weights used in the weighted moving average.
C: the value of used in exponential smoothing.
D: Write a sentence that identifies the prediction.
3. Clearly indicate the "next period" prediction for each method.
4: Suppose that the forecasting results are from three different branches of a company.
A: Based on the MAD (mean absolute deviation) value, how would you prioritize the need to update the forecasting methods to improve overall predictions? Note: The higher the MAD value, the worse the forecast.
B: Indicate a rank of 1, 2, or 3 along with the justification for the ranking with a 1 being the highest priority.
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