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
| 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.
Step by Step Solution
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There are 3 Steps involved in it
a You can use the mean absolute percentage error MAPE to compare the accuracy of the different forecasting methods The MAPE for each store would be St... View full answer
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