Three Month Rolling Average 2 Month Weighted Moving Average Exponential Smoothing $2,365.23 $2,366.84 $2,339.28 $8,115.92 $8,074.93 $7,951.89
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Question:
Three Month Rolling Average | 2 Month Weighted Moving Average | Exponential Smoothing |
$2,365.23 | $2,366.84 | $2,339.28 |
$8,115.92 | $8,074.93 | $7,951.89 |
$35,844.38 | $40,131.65 | $36,301.60 |
$11,566.05 | $11,647.90 | $11,396.80 |
$12,600.15 | $13,422.26 | $12,742.35 |
$96.94 | $93.19 | $94.32 |
$3,787.96 | $3,374.61 | $3,829.85 |
$10,289.75 | $10,266.06 | $9,933.15 |
$14,331.88 | $14,940.22 | $14,947.20 |
$19,419.12 | $18,087.52 | $18,930.27 |
I got this data for the month of December doing the three methods. Each figure is from a store for December so the top row is the figures from the methods for store #1 out of ten etc.
I have been folded the following but how the hell do I calculate the accuracy if I do not know the actual data for December? the methods used guessed the December amount but I do not know it. Please help me.
- Compute measures of forecast accuracy to recommend the best forecasting technique to use for the data.
- Rank the 10 stores based on the forecasts you made with the technique that you determined (in the above step) to be the best forecasting method.
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
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