Question: Type full name in row 4 below 1. Industrial pump sales Month January February March April May June July August Mo Counter 1 2 3

Type full name in row 4 below 1. Industrial pumpType full name in row 4 below 1. Industrial pump

Type full name in row 4 below 1. Industrial pump sales Month January February March April May June July August Mo Counter 1 2 3 4 5 6 7 8 Sales 385 389 394 398 405 422 420 440 Based on this data, forecast sales for September using: 1a. A four month moving average 1b. A weighted three month moving average using these weights: 0.6 August July June 0.3 0.1 1c. Exponential smoothing where a = 0.55 (assume the exponential smoothing forecast for June was 419) 2. One of your employees developed two models for forecasting sales and tried to fit the model to past sales data, as show below. You're not sure which mehod is better than the other, so you decide to calculate the Mean Absolute Percentage Error to explain which forecasting method (Method 1 or Method 2) is "better." Show your work In calculating the MAPE and make a conclusion as to which is a "better" method for 2. One of your employees developed two models for forecasting sales and tried to fit the model to past sales data, as show below. You're not sure which mehod is better than the other, so you decide to calculate the Mean Absolute Percentage Error to explain which forecasting method (Method 1 or Method 2) is "better." Show your work In calculating the MAPE and make a conclusion as to which is a "better" method for predicting future sales Month J F . A M J J A Mo Counter 1 2 3 4 5 6 7 8 Sales 353 321 362 370 382 377 392 404 Method 1 322 335 331 340 362 370 400 405 Method 2 340 350 372 364 385 391 391 400

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